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

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $11.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 130.13% from the company’s previous close.

Several other brokerages have also weighed in on BDTX. Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of Black Diamond Therapeutics in a research note on Tuesday, September 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday, July 3rd. Finally, 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 target price on the stock.

Black Diamond Therapeutics Stock Performance

NASDAQ:BDTX opened at $4.78 on Wednesday. The company has a fifty day moving average of $5.71 and a two-hundred day moving average of $5.34. The stock has a market capitalization of $268.89 million, a PE ratio of -2.88 and a beta of 2.49. Black Diamond Therapeutics has a fifty-two week low of $1.62 and a fifty-two week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. Research analysts forecast that Black Diamond Therapeutics will post -1.4 earnings per share for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several hedge funds have recently added to or reduced their stakes in BDTX. Susquehanna Fundamental Investments LLC purchased a new position in Black Diamond Therapeutics in the first quarter valued at approximately $82,000. SG Americas Securities LLC purchased a new position in shares of Black Diamond Therapeutics during the second quarter worth approximately $108,000. Jump Financial LLC grew its position in shares of Black Diamond Therapeutics by 245.0% during the fourth quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock worth $109,000 after acquiring an additional 27,616 shares during the last quarter. Algert Global LLC purchased a new position in shares of Black Diamond Therapeutics during the second quarter worth approximately $133,000. Finally, Pale Fire Capital SE purchased a new position in shares of Black Diamond Therapeutics during the fourth quarter worth approximately $144,000. 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.