Zacks Investment Research upgraded shares of Black Diamond Therapeutics (NASDAQ:REYN) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $35.00 price objective on the stock.
According to Zacks, “Reynolds Consumer Products Inc. is a consumer branded and private label products company. It produces and sells branded and store-brand products which includes cooking products, waste & storage products and tableware. The company’s flagship products include Reynolds Wrap(R) aluminum foil, Hefty(R) bags, and Hefty(R) party cups. Reynolds Consumer Products Inc. is based in Lake Forest, Illinois. “
A number of other equities research analysts have also commented on REYN. JPMorgan Chase & Co. upped their price target on Black Diamond Therapeutics from $37.00 to $38.00 and gave the company an overweight rating in a research report on Thursday, July 16th. BidaskClub upgraded Black Diamond Therapeutics from a sell rating to a hold rating in a research report on Friday, September 25th. Finally, ValuEngine lowered Black Diamond Therapeutics from a hold rating to a sell rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $36.40.
Black Diamond Therapeutics (NASDAQ:REYN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $798.00 million during the quarter, compared to the consensus estimate of $853.11 million. The company’s revenue was up 6.0% on a year-over-year basis. As a group, analysts forecast that Black Diamond Therapeutics will post 1.94 earnings per share for the current fiscal year.
In other news, Director Richard A. Noll purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $33.41 per share, with a total value of $501,150.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
A number of hedge funds have recently bought and sold shares of REYN. Advisor Group Holdings Inc. acquired a new position in Black Diamond Therapeutics during the 1st quarter worth approximately $41,000. Global Retirement Partners LLC raised its stake in Black Diamond Therapeutics by 27.4% during the 2nd quarter. Global Retirement Partners LLC now owns 1,811 shares of the company’s stock worth $63,000 after buying an additional 390 shares during the period. Deutsche Bank AG acquired a new position in Black Diamond Therapeutics during the 1st quarter worth approximately $67,000. First Quadrant L P CA acquired a new position in Black Diamond Therapeutics during the 2nd quarter worth approximately $98,000. Finally, Royal Bank of Canada acquired a new position in Black Diamond Therapeutics during the 1st quarter worth approximately $157,000. 26.16% of the stock is currently owned by institutional investors and hedge funds.
About Black Diamond Therapeutics
Reynolds Consumer Products Inc, a consumer products company, produces and sells products across cooking, waste and storage, and tableware. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produce foil, parchment paper, and disposable aluminum pans, as well as cooker liners.
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