Wedbush Has Positive Outlook of BDTX FY2024 Earnings

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) – Equities researchers at Wedbush lifted their FY2024 EPS estimates for Black Diamond Therapeutics in a note issued to investors on Tuesday, November 5th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of ($1.29) for the year, up from their previous estimate of ($1.54). Wedbush has a “Outperform” rating and a $16.00 price target on the stock. The consensus estimate for Black Diamond Therapeutics’ current full-year earnings is ($1.44) per share. Wedbush also issued estimates for Black Diamond Therapeutics’ Q4 2024 earnings at ($0.29) EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.22) EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at ($0.82) EPS, FY2026 earnings at ($0.78) EPS, FY2027 earnings at ($0.74) EPS and FY2028 earnings at ($0.39) EPS.

A number of other equities analysts have also commented on the stock. Piper Sandler lifted their price target on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a report on Wednesday. Finally, Raymond James assumed coverage on Black Diamond Therapeutics in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price objective on the stock.

Black Diamond Therapeutics Stock Performance

BDTX opened at $3.18 on Friday. The firm has a market cap of $179.70 million, a P/E ratio of -2.12 and a beta of 2.51. The business has a 50 day moving average price of $4.15 and a 200 day moving average price of $5.01. Black Diamond Therapeutics has a twelve month low of $1.62 and a twelve month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.09.

Institutional Trading of Black Diamond Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. bought a new stake in shares of Black Diamond Therapeutics during the third quarter valued at approximately $68,000. Susquehanna Fundamental Investments LLC bought a new stake in Black Diamond Therapeutics in the 1st quarter valued at $82,000. SG Americas Securities LLC acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $108,000. Algert Global LLC acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $133,000. Finally, Rhumbline Advisers lifted its holdings in shares of Black Diamond Therapeutics by 10,334.3% during the 2nd quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock worth $218,000 after acquiring an additional 46,401 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.