Berenberg Bank Thinks Black Diamond Therapeutics’ Stock is Going to Recover
In a report released today, Zhiqiang Shu from Berenberg Bank maintained a Buy rating on Black Diamond Therapeutics (BDTX), with a price target of $58.00. The company’s shares closed last Thursday at $22.95, close to its 52-week low of $20.75.
According to TipRanks.com, Shu is a 1-star analyst with an average return of -3.3% and a 20.0% success rate. Shu covers the Healthcare sector, focusing on stocks such as Sensei Biotherapeutics, Repare Therapeutics, and Arcus Biosciences.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Black Diamond Therapeutics with a $50.00 average price target, a 122.2% upside from current levels. In a report issued on March 16, H.C. Wainwright also reiterated a Buy rating on the stock with a $53.00 price target.
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The company has a one-year high of $46.25 and a one-year low of $20.75. Currently, Black Diamond Therapeutics has an average volume of 456.4K.
Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BDTX in relation to earlier this year.
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Black Diamond Therapeutics, Inc. engages in the biotechnology company that discovers and develops therapeutic agents to target unique oncogenic protein-isoforms. The company was founded by Dr. David M. Epstein and Dr. Elizabeth Buck in 2014 and is headquartered in Cambridge, MA.