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

Jefferies Financial Group upgraded shares of Black Diamond Therapeutics (NASDAQ:BDTX) to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

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

Black Diamond Therapeutics Trading Down 7.5%

Shares of BDTX stock opened at $3.10 on Thursday. Black Diamond Therapeutics has a 12 month low of $1.46 and a 12 month high of $4.94. The stock has a market cap of $177.60 million, a P/E ratio of 8.38 and a beta of 3.38. The company has a 50 day simple moving average of $2.41 and a two-hundred day simple moving average of $2.92.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. As a group, equities analysts forecast that Black Diamond Therapeutics will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cerity Partners LLC bought a new position in shares of Black Diamond Therapeutics during the second quarter worth $26,000. Virtu Financial LLC bought a new position in shares of Black Diamond Therapeutics during the third quarter worth $39,000. Hudson Bay Capital Management LP bought a new position in shares of Black Diamond Therapeutics during the second quarter worth $26,000. nVerses Capital LLC bought a new position in shares of Black Diamond Therapeutics during the fourth quarter worth $26,000. Finally, Stokes Family Office LLC bought a new position in shares of Black Diamond Therapeutics during the fourth quarter worth $27,000. 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.