HC Wainwright Reiterates Buy Rating for Black Diamond Therapeutics (NASDAQ:BDTX)

by · The Cerbat Gem

Black Diamond Therapeutics (NASDAQ:BDTX – Get Free Report)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $11.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 219.77% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Piper Sandler increased their target price 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. Wedbush reissued an “outperform” rating and issued a $16.00 price objective on shares of Black Diamond Therapeutics in a research note on Tuesday. Finally, Raymond James assumed coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating and a $20.00 target price on the stock.

View Our Latest Stock Report on Black Diamond Therapeutics

Black Diamond Therapeutics Price Performance

Shares of Black Diamond Therapeutics stock opened at $3.44 on Wednesday. Black Diamond Therapeutics has a 1-year low of $1.62 and a 1-year high of $7.66. The company’s fifty day simple moving average is $5.13 and its 200-day simple moving average is $5.29. The stock has a market capitalization of $193.51 million, a PE ratio of -2.07 and a beta of 2.47.

Black Diamond Therapeutics (NASDAQ:BDTX – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.03. As a group, research analysts anticipate that Black Diamond Therapeutics will post -1.4 EPS for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several hedge funds have recently modified their holdings of BDTX. Susquehanna Fundamental Investments LLC purchased a new position in Black Diamond Therapeutics during the first quarter valued at $82,000. Foundations Investment Advisors LLC grew its position in shares of Black Diamond Therapeutics by 17.7% during the second quarter. Foundations Investment Advisors LLC now owns 113,550 shares of the company’s stock valued at $529,000 after purchasing an additional 17,050 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of 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 purchasing an additional 20,616 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Black Diamond Therapeutics in the second quarter worth about $108,000. Finally, Algert Global LLC bought a new position in Black Diamond Therapeutics during the second quarter valued at approximately $133,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

About Black Diamond Therapeutics

(Get Free Report)

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.

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