Black Diamond Therapeutics (NASDAQ:BDTX) PT Raised to $16.00

Black Diamond Therapeutics (NASDAQ:BDTX) had its price target hoisted by analysts at Wedbush from $10.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 198.51% from the company’s previous close.

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 price target (up from $11.00) on shares of Black Diamond Therapeutics in a research report on Monday, March 18th.

Black Diamond Therapeutics Stock Up 0.2 %

Shares of BDTX opened at $5.36 on Monday. Black Diamond Therapeutics has a 52-week low of $1.43 and a 52-week high of $6.85. The stock has a market cap of $277.22 million, a PE ratio of -2.85 and a beta of 2.64. The firm’s fifty day moving average is $4.69 and its two-hundred day moving average is $3.28.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.13. As a group, research analysts anticipate that Black Diamond Therapeutics will post -1.76 earnings per share for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of BDTX. Point72 Asset Management L.P. acquired a new position in Black Diamond Therapeutics in the second quarter valued at approximately $10,100,000. JPMorgan Chase & Co. grew its holdings in shares of Black Diamond Therapeutics by 195,562.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,080,059 shares of the company’s stock worth $5,454,000 after purchasing an additional 1,079,507 shares during the period. RA Capital Management L.P. increased its position in shares of Black Diamond Therapeutics by 36.1% during the 2nd quarter. RA Capital Management L.P. now owns 3,525,754 shares of the company’s stock worth $17,805,000 after purchasing an additional 935,850 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in Black Diamond Therapeutics in the 2nd quarter valued at about $3,795,000. Finally, BlackRock Inc. boosted its stake in Black Diamond Therapeutics by 99.0% during the second quarter. BlackRock Inc. now owns 1,505,439 shares of the company’s stock worth $7,602,000 after buying an additional 749,052 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc, a clinical-stage precision oncology medicine company, focuses on the discovery and development of therapies for patients with genetically defined cancers. The company's lead product candidate, BDTX-1535, a brain-penetrant, mutant selective, irreversible EGFR MasterKey inhibitor, designed to inhibit a family of oncogenic mutations, currently under Phase 1 clinical trial.