Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $10.00.

A number of equities analysts have issued reports on the company. Wedbush raised their target price on Black Diamond Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Jefferies Financial Group upgraded Black Diamond Therapeutics to a “strong-buy” rating in a report on Thursday, April 23rd. BTIG Research raised their target price on Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. HC Wainwright restated a “buy” rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. Finally, Raymond James Financial restated an “outperform” rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Black Diamond Therapeutics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 505,780 shares of the company’s stock valued at $1,229,000 after purchasing an additional 5,257 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Black Diamond Therapeutics by 48.9% during the 4th quarter. Engineers Gate Manager LP now owns 19,701 shares of the company’s stock valued at $48,000 after purchasing an additional 6,469 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of Black Diamond Therapeutics by 31.0% during the 4th quarter. Kathmere Capital Management LLC now owns 31,822 shares of the company’s stock valued at $77,000 after purchasing an additional 7,539 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Black Diamond Therapeutics by 22.5% during the 3rd quarter. Bank of America Corp DE now owns 43,359 shares of the company’s stock valued at $164,000 after purchasing an additional 7,972 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $26,000. Institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Trading Down 8.6%

Shares of BDTX opened at $1.70 on Friday. Black Diamond Therapeutics has a 1 year low of $1.60 and a 1 year high of $4.94. The stock has a market cap of $97.41 million, a P/E ratio of -2.21 and a beta of 3.22. The stock’s 50-day moving average price is $2.45 and its two-hundred day moving average price is $2.44.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. As a group, equities analysts forecast that Black Diamond Therapeutics will post -0.6 EPS for the current year.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company’s development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.