Wedbush Equities Analysts Boost Earnings Estimates for BDTX

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) – Equities researchers at Wedbush raised their FY2024 EPS estimates for Black Diamond Therapeutics in a report released on Tuesday, November 5th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings of ($1.29) per share for the year, up from their prior estimate of ($1.54). Wedbush currently has a “Outperform” rating and a $16.00 target price on the stock. The consensus estimate for Black Diamond Therapeutics’ current full-year earnings is ($1.44) per share. Wedbush also issued estimates for Black Diamond Therapeutics’ Q4 2024 earnings at ($0.29) EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.22) EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at ($0.82) EPS, FY2026 earnings at ($0.78) EPS, FY2027 earnings at ($0.74) EPS and FY2028 earnings at ($0.39) EPS.

A number of other brokerages have also issued reports on BDTX. Raymond James started coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an “outperform” rating and a $20.00 target price on the stock. Piper Sandler upped their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a research note on Wednesday.

Black Diamond Therapeutics Stock Down 3.3 %

Shares of NASDAQ:BDTX opened at $3.18 on Friday. The firm has a market cap of $179.70 million, a P/E ratio of -2.12 and a beta of 2.51. Black Diamond Therapeutics has a 12 month low of $1.62 and a 12 month high of $7.66. The company’s 50-day moving average price is $4.15 and its two-hundred day moving average price is $5.01.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC acquired a new stake in Black Diamond Therapeutics during the 2nd quarter worth approximately $3,029,000. TD Asset Management Inc boosted its position in shares of Black Diamond Therapeutics by 275.9% during the second quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock worth $1,241,000 after buying an additional 195,464 shares during the period. Ally Bridge Group NY LLC bought a new position in shares of Black Diamond Therapeutics during the second quarter worth about $3,891,000. Vontobel Holding Ltd. acquired a new stake in Black Diamond Therapeutics in the 3rd quarter valued at approximately $68,000. Finally, Acadian Asset Management LLC lifted its stake in Black Diamond Therapeutics by 13.8% in the 1st 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 in the last quarter. 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.