H.C. Wainwright Reiterates Buy Rating on Black Diamond Therapeutics (BDTX)

H.C. Wainwright analyst Raghuram Selvaraju reiterated a Buy rating and $11.00 price target on Black Diamond Therapeutics (NASDAQ: BDTX).

The analyst commented: "At ESMO 2024 in Barcelona, Spain, which concluded earlier this week, Black Diamond presented real-world treatment outcomes for newly-diagnosed non-small cell lung cancer (NSCLC) patients with non-classical EGFR mutations (NCMs). As seen in the poster, newly diagnosed patients expressing NCMs discontinued Tagrisso (osimertinib) therapy at a median of 6.0 months vs. those with classical mutations, who remained on therapy for 13.8 months. Patients on Gilotrif (afatinib) discontinued therapy at a median of 8.0 months; the median time to treatment discontinuation for patients on chemotherapy was 4.2 months. In addition, the coexpression of Tagrisso-resistant NCMs (primarily PACC and ECD mutations) with L858R may contribute to inferior outcomes compared with L858R expression alone. Lastly, the findings further demonstrate that current treatment practices for patients with NCMs are heterogenous: 36% of patients received Tagrisso or Gilotrif, and 60% of patients received chemotherapy and/or immunotherapy. We reiterate our Buy rating and 12-month price target of $11 per share."

For an analyst ratings summary and ratings history on Black Diamond Therapeutics click here. For more ratings news on Black Diamond Therapeutics click here.

Shares of Black Diamond Therapeutics closed at $4.83 yesterday.

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