Black Diamond Therapeutics (BDTX) Receives a Buy from Canaccord Genuity
Canaccord Genuity analyst Arlinda Lee maintained a Buy rating on Black Diamond Therapeutics (BDTX) yesterday and set a price target of $50.00. The company’s shares closed last Thursday at $13.93, close to its 52-week low of $13.27.
According to TipRanks.com, Lee is a 4-star analyst with an average return of 9.6% and a 47.5% success rate. Lee covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, Rhythm Pharmaceuticals, and Delcath Systems.
Black Diamond Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $46.60, which is a 187.5% upside from current levels. In a report issued on May 7, Berenberg Bank also maintained a Buy rating on the stock with a $58.00 price target.
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Based on Black Diamond Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $30.3 million. In comparison, last year the company had a GAAP net loss of $12.15 million.
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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.