Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock Has Average Target Price of $10.25 According to Analysts

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $10.25.

BDTX has been the topic of several recent research reports. Weiss Ratings cut shares of Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, July 13th. Raymond James Financial restated an “outperform” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. TD Cowen restated a “buy” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th.

Black Diamond Therapeutics Trading Up 1.1%

BDTX opened at $1.83 on Friday. The company has a market capitalization of $105.13 million, a price-to-earnings ratio of -2.44 and a beta of 3.32. Black Diamond Therapeutics has a 12-month low of $1.60 and a 12-month high of $4.94. The business’s fifty day simple moving average is $2.00 and its 200-day simple moving average is $2.17.

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

Hedge Funds Weigh In On Black Diamond Therapeutics

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Black Diamond Therapeutics during the 2nd quarter valued at $7,247,000. Renaissance Technologies LLC increased its holdings in shares of Black Diamond Therapeutics by 73.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company’s stock valued at $3,501,000 after acquiring an additional 694,012 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Black Diamond Therapeutics by 51.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,301,664 shares of the company’s stock valued at $2,772,000 after acquiring an additional 444,649 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $2,022,000. Finally, AWM Investment Company Inc. bought a new position in shares of Black Diamond Therapeutics in the 2nd quarter worth $1,850,000. Institutional investors own 95.47% of the company’s stock.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company uses its MasterKey platform to identify cancer-driving mutations and develop small-molecule therapies intended to address mutations across multiple tumor types, rather than focusing exclusively on a single tissue or cancer diagnosis.

Its pipeline has included brain-penetrant targeted therapies designed for patients with oncogenic alterations in pathways such as EGFR and RAF.