Black Diamond Therapeutics assumed with an Overweight at Piper Sandler

Piper Sandler assumed coverage of Black Diamond Therapeutics (BDTX) with an Overweight rating and $9 price target Black Diamond is advancing lead asset silevertinib, a “potentially best-in-class” fourth generation EGFR inhibitor for treatment of non-small cell lung cancer and glioblastoma, the analyst tells investors. The less than $100M enterprise value reflected in shares ahead of multiple clinically de-risking and value creating catalysts over the next 12 months “offers an attractive entry point,” the analyst contends.