Black Diamond Therapeutics (NASDAQ:BDTX) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Black Diamond Therapeutics (NASDAQ:BDTX) to an outperform rating in a research note issued to investors on Tuesday, MarketBeat.com reports. Raymond James Financial currently has $11.00 price objective on the stock.

Other analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th. Wall Street Zen upgraded Black Diamond Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. HC Wainwright increased their price target on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus cut their price objective on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $12.80.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX opened at $2.58 on Tuesday. The firm has a 50 day moving average price of $2.14 and a two-hundred day moving average price of $2.03. The stock has a market cap of $146.70 million, a P/E ratio of 43.00 and a beta of 2.71. Black Diamond Therapeutics has a 52-week low of $1.20 and a 52-week high of $6.75.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. acquired a new position in shares of Black Diamond Therapeutics during the 4th quarter valued at $37,000. Intech Investment Management LLC increased its stake in Black Diamond Therapeutics by 49.1% in the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock valued at $41,000 after purchasing an additional 6,340 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Black Diamond Therapeutics by 429.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock valued at $41,000 after purchasing an additional 15,355 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Black Diamond Therapeutics by 41.8% during the fourth quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock valued at $43,000 after purchasing an additional 5,932 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of Black Diamond Therapeutics during the fourth quarter valued at about $49,000. 95.47% of the stock is currently owned by 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.