Wedbush Issues Optimistic Estimate for BDTX Earnings

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) – Research analysts at Wedbush increased their Q1 2025 earnings per share (EPS) estimates for Black Diamond Therapeutics in a note issued to investors on Wednesday, March 19th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings of $0.92 per share for the quarter, up from their previous forecast of ($0.28). Wedbush currently has a “Outperform” rating and a $11.00 target price on the stock. The consensus estimate for Black Diamond Therapeutics’ current full-year earnings is ($1.30) per share. Wedbush also issued estimates for Black Diamond Therapeutics’ FY2025 earnings at $0.07 EPS.

Several other research firms have also recently weighed in on BDTX. Stifel Nicolaus lowered their price target on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, March 7th. HC Wainwright increased their target price on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Black Diamond Therapeutics has a consensus rating of “Buy” and an average price target of $14.60.

Black Diamond Therapeutics Stock Up 0.6 %

Shares of Black Diamond Therapeutics stock opened at $1.69 on Monday. Black Diamond Therapeutics has a twelve month low of $1.59 and a twelve month high of $7.66. The company’s 50 day moving average is $2.14 and its 200 day moving average is $2.80. The company has a market cap of $95.76 million, a price-to-earnings ratio of -1.27 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.03.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vestal Point Capital LP raised its stake in Black Diamond Therapeutics by 139.5% during the 3rd quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock worth $21,874,000 after acquiring an additional 2,928,500 shares during the period. Tang Capital Management LLC raised its position in shares of Black Diamond Therapeutics by 51.1% during the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock valued at $4,430,000 after purchasing an additional 700,000 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Black Diamond Therapeutics during the 3rd quarter valued at $3,032,000. Renaissance Technologies LLC lifted its stake in shares of Black Diamond Therapeutics by 256.2% during the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company’s stock valued at $1,935,000 after buying an additional 650,200 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in Black Diamond Therapeutics in the 4th quarter worth $1,197,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Black Diamond Therapeutics

In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total value of $11,973,484.44. Following the completion of the sale, the insider now owns 2,733,547 shares in the company, valued at $5,658,442.29. This represents a 67.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.87% of the company’s stock.

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.