HC Wainwright Has Bullish Forecast for BDTX FY2024 Earnings

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) – Analysts at HC Wainwright lifted their FY2024 earnings per share (EPS) estimates for shares of Black Diamond Therapeutics in a research report issued to clients and investors on Tuesday, November 5th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings of ($1.29) per share for the year, up from their prior forecast of ($1.44). HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Black Diamond Therapeutics’ current full-year earnings is ($1.44) per share. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.33) EPS and FY2025 earnings at ($1.28) EPS.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its earnings results on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.09.

Other research analysts have also recently issued reports about the stock. Raymond James assumed coverage on shares of Black Diamond Therapeutics in a report on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 target price for the company. Piper Sandler upped their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a report on Tuesday, October 8th.

Black Diamond Therapeutics Price Performance

Shares of Black Diamond Therapeutics stock opened at $3.18 on Friday. Black Diamond Therapeutics has a 1 year low of $1.62 and a 1 year high of $7.66. The firm’s 50-day moving average is $4.15 and its 200 day moving average is $5.01. The stock has a market cap of $179.70 million, a price-to-earnings ratio of -2.12 and a beta of 2.51.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BDTX. Affinity Asset Advisors LLC bought a new position in shares of Black Diamond Therapeutics in the second quarter worth approximately $3,029,000. TD Asset Management Inc lifted its stake in shares of Black Diamond Therapeutics by 275.9% during the 2nd quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock valued at $1,241,000 after buying an additional 195,464 shares in the last quarter. Ally Bridge Group NY LLC bought a new position in Black Diamond Therapeutics in the 2nd quarter worth $3,891,000. Vontobel Holding Ltd. purchased a new stake in Black Diamond Therapeutics in the 3rd quarter worth $68,000. Finally, Acadian Asset Management LLC raised its holdings in Black Diamond Therapeutics by 13.8% during the first quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock valued at $864,000 after acquiring an additional 20,616 shares during the period. Institutional investors own 95.47% of the company’s stock.

About Black Diamond Therapeutics

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.