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 Friday at $26.94.
According to TipRanks.com, Lee is a 5-star analyst with an average return of 15.9% and a 51.4% success rate. Lee covers the Healthcare sector, focusing on stocks such as Turning Point Therapeutics, Ultragenyx Pharmaceutical, and Karyopharm Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Black Diamond Therapeutics with a $51.50 average price target, implying a 77.6% upside from current levels. In a report issued on January 6, Wedbush also initiated coverage with a Buy rating on the stock with a $45.00 price target.
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Based on Black Diamond Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $17.91 million. In comparison, last year the company had a GAAP net loss of $9.27 million.
Based on the recent corporate insider activity of 103 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.