Guggenheim Initiates Coverage on Black Diamond with Buy Rating, $8 PT

Guggenheim Initiates Coverage on Black Diamond with Buy Rating, $8 PT

Guggenheim Securities has initiated coverage on Black Diamond Therapeutics (NASDAQ: BDTX) with a Buy rating and a price target of $8.00, according to a research note released on September 2, 2025. The company currently trades at $2.88 and has shown strong financial health, as evidenced by its "GREAT" rating from InvestingPro metrics.

The research firm believes that Black Diamond's silevertinib, an upcoming phase 2 data release expected in the second half of 2025, has the potential to exceed expectations. Guggenheim notes that future pivotal development in first-line non-classical EGFRm NSCLC will require surpassing control arm metrics of approximately 50% objective response rate (ORR) and 10-month median progression-free survival (mPFS). The firm highlights silevertinib's preclinical profile, designed for broad-spectrum non-classical mutation selectivity over wild-type EGFR, positioning it to potentially meet these benchmarks.

Guggenheim also points out that robust second-line response rates after osimertinib treatment suggest that upcoming first-line data could be positive, potentially attracting strategic partnerships necessary for further development.

In other recent news, analyst attention has focused on Black Diamond Therapeutics. H.C. Wainwright has adjusted its price target for Black Diamond Therapeutics to $10.00, down from $12.00, while maintaining a Buy rating. This change follows the delay in the expected U.S. launch timeline for their drug silevertinib (BDTX-1535), now anticipated in 2028 instead of 2026. Raymond James has resumed coverage on Black Diamond Therapeutics with an Outperform rating and set a price target of $11.00. Their analysis emphasizes the potential of BDTX-1535, which has shown efficacy in patients previously treated with osimertinib. These developments reflect ongoing interest and varying perspectives on the company’s future prospects.

References:
[1] https://www.investing.com/news/analyst-ratings/black-diamond-therapeutics-stock-initiated-with-buy-rating-at-guggenheim-93CH-4223863