Wedbush Has Optimistic View of BDTX FY2024 Earnings

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) - Research analysts at Wedbush raised their FY2024 EPS estimates for shares of Black Diamond Therapeutics in a note issued to investors on Tuesday, November 5th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings per share of ($1.29) for the year, up from their prior forecast of ($1.54). Wedbush currently has a "Outperform" rating and a $16.00 price objective 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 analysts have also recently weighed in on the stock. 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. Piper Sandler upped their target price on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Finally, Raymond James started coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, July 31st. They issued an "outperform" rating and a $20.00 price target on the stock.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ:BDTX traded up $0.11 on Friday, hitting $3.29. 535,546 shares of the company were exchanged, compared to its average volume of 819,234. The firm has a market capitalization of $185.92 million, a price-to-earnings ratio of -2.19 and a beta of 2.51. The company's 50 day moving average price is $4.10 and its two-hundred day moving average price is $5.00. Black Diamond Therapeutics has a one year low of $1.62 and a one year high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.09.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new position in Black Diamond Therapeutics in the third quarter valued at about $68,000. Algert Global LLC acquired a new position in shares of Black Diamond Therapeutics during the second quarter worth approximately $133,000. The Manufacturers Life Insurance Company acquired a new position in shares of Black Diamond Therapeutics during the second quarter worth approximately $280,000. Affinity Asset Advisors LLC acquired a new position in shares of Black Diamond Therapeutics during the second quarter worth approximately $3,029,000. Finally, Marshall Wace LLP acquired a new position in shares of Black Diamond Therapeutics during the second quarter worth approximately $441,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.