Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - H.C. Wainwright has lowered its price target on Black Diamond Therapeutics (NASDAQ:BDTX) to $10.00 from $12.00 while maintaining a Buy rating on the stock. According to InvestingPro data, analysts maintain a strong bullish consensus on BDTX, with price targets ranging from $9.00 to $12.00, suggesting significant upside potential from current levels.
The adjustment comes after the firm pushed back its expected U.S. launch timeline for silevertinib (BDTX-1535) to 2028 from the previously anticipated 2026 launch date.
H.C. Wainwright analyst Raghuram Selvaraju noted that upcoming catalysts for Black Diamond (NASDAQ:CLAR) include initial results for BDTX-1535 in the first-line setting for NSCLC patients with non-classical driver mutations expected in the second quarter of 2025, as well as updated Phase 2 results in recurrent EGFR+ NSCLC in the second half of 2025.
The firm highlighted encouraging initial Phase 2 results for BDTX-1535, which showed a 36% overall response rate in 22 response-evaluable patients, improving to 42% after excluding three patients without on-target resistance mutations. The data showed 74% of patients remained on treatment as of the data cut, though follow-up was limited to 4.7 months.
Based on these results, Black Diamond plans to pursue a pivotal trial in the first-line setting, with more details expected in the first half of 2026 after receiving FDA feedback.
In other recent news, Raymond (NSE:RYMD) James has resumed coverage on Black Diamond Therapeutics, assigning the company an Outperform rating. The firm has set a price target of $11.00 for the stock. Raymond James’s analysis focuses on Black Diamond’s drug candidate, BDTX-1535, which has shown promising activity in patients previously treated with osimertinib. The firm suggests that this efficacy may be beneficial in first-line treatment settings, especially for patients with non-classical mutations where existing treatments are less effective. These developments highlight the potential of Black Diamond’s ongoing projects in the therapeutic field.
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