Black Diamond Therapeutics (NASDAQ:REYN) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Black Diamond Therapeutics (NASDAQ:REYN) from a hold rating to a buy rating in a report issued on Wednesday morning, reports. Zacks Investment Research currently has $35.00 target price on the stock.

According to Zacks, “Reynolds Consumer Products Inc. is a consumer branded and private label products company. It produces and sells branded and store-brand products which includes cooking products, waste & storage products and tableware. The company’s flagship products include Reynolds Wrap(R) aluminum foil, Hefty(R) bags, and Hefty(R) party cups. Reynolds Consumer Products Inc. is based in Lake Forest, Illinois. “

A number of other equities research analysts also recently issued reports on REYN. BidaskClub upgraded Black Diamond Therapeutics from a sell rating to a hold rating in a research report on Friday, September 25th. ValuEngine downgraded Black Diamond Therapeutics from a hold rating to a sell rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on Black Diamond Therapeutics from $37.00 to $38.00 and gave the stock an overweight rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $36.40.

Black Diamond Therapeutics stock opened at $31.24 on Wednesday. Black Diamond Therapeutics has a one year low of $21.61 and a one year high of $36.00. The business has a fifty day moving average price of $31.76 and a 200-day moving average price of $32.57. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.81 and a quick ratio of 1.82. The firm has a market capitalization of $6.55 billion and a P/E ratio of 21.54.

Black Diamond Therapeutics (NASDAQ:REYN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $798.00 million during the quarter, compared to the consensus estimate of $853.11 million. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that Black Diamond Therapeutics will post 1.94 earnings per share for the current fiscal year.

In other news, Director Richard A. Noll purchased 15,000 shares of the stock in a transaction on Monday, August 17th. The shares were acquired at an average price of $33.41 per share, for a total transaction of $501,150.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. purchased a new stake in Black Diamond Therapeutics during the first quarter valued at about $41,000. Global Retirement Partners LLC increased its holdings in shares of Black Diamond Therapeutics by 27.4% in the second quarter. Global Retirement Partners LLC now owns 1,811 shares of the company’s stock worth $63,000 after buying an additional 390 shares during the period. Deutsche Bank AG purchased a new position in shares of Black Diamond Therapeutics in the first quarter worth about $67,000. First Quadrant L P CA purchased a new position in shares of Black Diamond Therapeutics in the second quarter worth about $98,000. Finally, Royal Bank of Canada purchased a new position in shares of Black Diamond Therapeutics in the first quarter worth about $157,000. Institutional investors and hedge funds own 26.16% of the company’s stock.

Black Diamond Therapeutics Company Profile

Reynolds Consumer Products Inc, a consumer products company, produces and sells products across cooking, waste and storage, and tableware. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produce foil, parchment paper, and disposable aluminum pans, as well as cooker liners.

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