Black Diamond Therapeutics’ (BDTX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $11.00 price objective on the stock. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($1.29) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.33) EPS and FY2025 earnings at ($1.28) EPS.

Other research analysts have also recently issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Black Diamond Therapeutics in a report on Tuesday, October 8th. Raymond James assumed coverage on shares of Black Diamond Therapeutics in a report on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Piper Sandler upped their price target on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd.

Black Diamond Therapeutics Stock Up 3.5 %

BDTX stock traded up $0.11 during mid-day trading on Wednesday, reaching $3.29. 535,556 shares of the company traded hands, compared to its average volume of 819,234. The stock has a market cap of $185.92 million, a price-to-earnings ratio of -2.19 and a beta of 2.51. Black Diamond Therapeutics has a fifty-two week low of $1.62 and a fifty-two week high of $7.66. The firm’s 50 day moving average price is $4.10 and its 200 day moving average price is $5.00.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. On average, analysts anticipate that Black Diamond Therapeutics will post -1.44 EPS for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

Several institutional investors have recently added to or reduced their stakes in BDTX. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Black Diamond Therapeutics during the first quarter worth about $82,000. Acadian Asset Management LLC raised its stake in Black Diamond Therapeutics by 13.8% in the first quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock worth $864,000 after buying an additional 20,616 shares in the last quarter. SG Americas Securities LLC bought a new position in Black Diamond Therapeutics in the second quarter worth about $108,000. Bank of New York Mellon Corp bought a new position in Black Diamond Therapeutics in the second quarter worth about $508,000. Finally, Rhumbline Advisers raised its stake in Black Diamond Therapeutics by 10,334.3% in the second quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock worth $218,000 after buying an additional 46,401 shares in the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.