Brokerages Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Price Target at $9.80

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $9.80.

Several equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. TD Cowen reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. HC Wainwright restated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Finally, BTIG Research lifted their price target on Black Diamond Therapeutics from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th.

Black Diamond Therapeutics Trading Up 2.8%

Shares of NASDAQ:BDTX opened at $2.21 on Friday. Black Diamond Therapeutics has a 12-month low of $1.60 and a 12-month high of $4.94. The company has a market capitalization of $126.96 million, a PE ratio of -2.95 and a beta of 3.28. The business has a 50 day moving average of $1.86 and a two-hundred day moving average of $2.24.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. Equities research analysts predict that Black Diamond Therapeutics will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

Institutional investors have recently bought and sold shares of the business. Invesco Ltd. increased its position in shares of Black Diamond Therapeutics by 152.5% in the first quarter. Invesco Ltd. now owns 45,989 shares of the company’s stock valued at $71,000 after buying an additional 27,777 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Black Diamond Therapeutics during the 1st quarter valued at approximately $84,000. American Century Companies Inc. acquired a new stake in Black Diamond Therapeutics in the 2nd quarter valued at $30,000. Prudential Financial Inc. acquired a new stake in Black Diamond Therapeutics in the 2nd quarter valued at $32,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Black Diamond Therapeutics in the 2nd quarter worth $343,000. 95.47% of the stock is owned by institutional investors and hedge funds.

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.