I-Mab (NASDAQ:BDTX) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of I-Mab (NASDAQ:BDTX) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $36.00 price target on the stock.

According to Zacks, “Black Diamond Therapeutics Inc. is an oncology medicine company. It engages in discovery and development of small molecule, tumor-agnostic therapies. The company’s lead product candidate is BDTX-189, an inhibitor of non-canonical and oncogenic mutations of ErbB kinases epidermal growth factor receptor and tyrosine-protein kinase. Black Diamond Therapeutics Inc. is based in Cambridge, Massachusetts. “

Several other equities research analysts have also recently weighed in on the company. HC Wainwright reissued a buy rating and issued a $53.00 price objective on shares of I-Mab in a research report on Wednesday. Canaccord Genuity reissued a buy rating and issued a $50.00 price target on shares of I-Mab in a report on Thursday, May 21st. Six analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $45.60.

NASDAQ:BDTX traded up $0.16 during midday trading on Wednesday, reaching $29.15. The stock had a trading volume of 541,632 shares, compared to its average volume of 199,731. The firm has a market capitalization of $1.18 billion and a PE ratio of -1.72. I-Mab has a 1-year low of $17.63 and a 1-year high of $46.25. The business has a fifty day moving average price of $33.41.

I-Mab (NASDAQ:BDTX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. On average, equities analysts forecast that I-Mab will post -2.09 earnings per share for the current fiscal year.

In related news, major shareholder Versant Venture Capital Vi, L. sold 5,492 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $33.04, for a total value of $181,455.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bradley J. Phd Bolzon sold 6,217 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $33.04, for a total transaction of $205,409.68. Following the completion of the transaction, the director now directly owns 1,491 shares of the company’s stock, valued at approximately $49,262.64. The disclosure for this sale can be found here.

About I-Mab

Black Diamond Therapeutics, Inc, a biotechnology company, discover and develops small molecule, tumor-agnostic therapies for cancer treatment. Its lead product candidate is BDTX-189, an inhibitor of non-canonical and oncogenic mutations of ErbB kinases epidermal growth factor receptor (EGFR) and tyrosine-protein kinase.

Further Reading: How can you know how many shares are floating?

Get a free copy of the Zacks research report on I-Mab (BDTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for I-Mab (NASDAQ:BDTX)

Receive News & Ratings for I-Mab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for I-Mab and related companies with MarketBeat.com's FREE daily email newsletter.