Black Diamond Therapeutics price target raised to $18 from $15 at Stifel

Stifel raised the firm’s price target on Black Diamond Therapeutics to $18 from $15 and keeps a Buy rating on the shares. Following the company’s report of interim Phase 2 data for BDTX-1535, the firm thinks a positive profile has emerged from the early data in second-to-third-line patients, which sets up the potential to see strong data in the near-term first-line phase 2 cohort update due in Q1 of 2025, the analyst tells investors. The efficacy and safety data for BDTX-1535 imply that it is well-designed, and that durability will likely mature positively, the analyst added.