Piper Sandler Reiterates Overweight Rating on Black Diamond Therapeutics (BDTX)

Piper Sandler analyst Joseph Calanzaro reiterated an Overweight rating and $15.00 price target on Black Diamond Therapeutics (NASDAQ: BDTX).

The analyst commented, "Following initial data from BDTX-1535's ongoing Phase II in EGFR+ NSCLC (see note here), BDTX has implemented a restructuring as a means to extend cash runway (now into 2Q26 vs. 4Q25 prior) and better position the company ahead of BDTX-1535's next meaningful clinical readouts in 2025. The primary pipeline culprit of the restructuring is BDTX-4933, a RAF inhibitor where initial Phase I data were expected sometime this quarter, and a program that had not factored into our model. BDTX is guiding towards additional Phase II readouts for BDTX-1535 in EGFR+ NSCLC in 1Q25 that will include initial data in 1L non-classical patients and now another look at the just disclosed 2/3L cohorts (alongside a potential registrational path forward). Altogether, a logical and prudent decision to extend runway and to put all focus into BDTX-1535, which we see as having multiple potential opportunities within EGFR+ NSCLC."

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 $3.66 yesterday.

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