Black Diamond Therapeutics (NASDAQ:BDTX) Upgraded to “Strong-Buy” at Jefferies Financial Group

Black Diamond Therapeutics (NASDAQ:BDTX) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Zacks Research lowered Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Piper Sandler dropped their target price on shares of Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, January 16th. Wedbush increased their target price on shares of Black Diamond Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings raised shares of Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Black Diamond Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $9.83.

Black Diamond Therapeutics Price Performance

NASDAQ BDTX opened at $3.10 on Thursday. The company has a market cap of $177.60 million, a PE ratio of 8.38 and a beta of 3.38. The stock’s 50 day simple moving average is $2.41 and its 200-day simple moving average is $2.92. Black Diamond Therapeutics has a 1-year low of $1.46 and a 1-year high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. On average, equities research analysts anticipate that Black Diamond Therapeutics will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors have recently added to or reduced their stakes in BDTX. Geode Capital Management LLC boosted its stake in Black Diamond Therapeutics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 505,780 shares of the company’s stock worth $1,229,000 after buying an additional 5,257 shares during the last quarter. Engineers Gate Manager LP increased its stake in shares of Black Diamond Therapeutics by 48.9% in the 4th quarter. Engineers Gate Manager LP now owns 19,701 shares of the company’s stock worth $48,000 after acquiring an additional 6,469 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Black Diamond Therapeutics by 31.0% during the 4th quarter. Kathmere Capital Management LLC now owns 31,822 shares of the company’s stock worth $77,000 after acquiring an additional 7,539 shares during the period. Bank of America Corp DE raised its holdings in shares of Black Diamond Therapeutics by 22.5% during the 3rd quarter. Bank of America Corp DE now owns 43,359 shares of the company’s stock worth $164,000 after acquiring an additional 7,972 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.