Genuine Monotherapy Approach In EGFRm NSCLC: Analyst Upgrades Switches To Buy On Black Diamond Therapeutics
Portfolio Pulse from Vandana Singh
Black Diamond Therapeutics Inc (BDTX) announced initial clinical data from the Phase 1 study of BDTX-1535 for non-small cell lung cancer (NSCLC) and glioblastoma multiforme (GBM). The data showed the activity of BDTX-1535 in NSCLC patients with both acquired resistance and intrinsic driver EGFR mutations. Stifel analyst upgraded the stock from Hold to Buy with a price target of $10, up from $2. The company raised $75 million via equity capital raise. BDTX shares are down 1.62% at $4.95.
June 30, 2023 | 6:47 pm
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POSITIVE IMPACT
Stifel analyst upgraded BDTX from Hold to Buy with a price target of $10, up from $2, following positive Phase 1 study data. The company also raised $75 million via equity capital raise.
The upgrade from Stifel, along with the positive clinical data, could potentially drive the stock price up in the short term. However, the stock price is currently down, which might be due to other market factors. The equity capital raise of $75 million also indicates a strong financial position for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100