Craig Hallum Has Lowered Expectations for Biodesix (NASDAQ:BDSX) Stock Price

Biodesix (NASDAQ:BDSX) had its price objective reduced by stock analysts at Craig Hallum from $3.00 to $1.50 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

BDSX has been the topic of a number of other reports. Canaccord Genuity Group decreased their target price on shares of Biodesix from $2.50 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday. William Blair reissued a “market perform” rating on shares of Biodesix in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.00.

Biodesix Price Performance

NASDAQ:BDSX opened at $0.22 on Wednesday. Biodesix has a 52 week low of $0.17 and a 52 week high of $2.04. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $32.22 million, a PE ratio of -0.56 and a beta of 1.18. The stock’s 50-day moving average price is $0.58 and its 200-day moving average price is $1.00.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. The company had revenue of $17.96 million for the quarter, compared to analysts’ expectations of $19.50 million. As a group, equities analysts expect that Biodesix will post -0.35 EPS for the current fiscal year.

Institutional Trading of Biodesix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. purchased a new stake in Biodesix in the fourth quarter valued at approximately $29,000. Barclays PLC raised its position in Biodesix by 1,140.5% in the third quarter. Barclays PLC now owns 23,036 shares of the company’s stock valued at $41,000 after purchasing an additional 21,179 shares during the period. HighTower Advisors LLC raised its position in Biodesix by 17.1% in the fourth quarter. HighTower Advisors LLC now owns 153,934 shares of the company’s stock valued at $236,000 after purchasing an additional 22,500 shares during the period. Geode Capital Management LLC grew its stake in shares of Biodesix by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 827,199 shares of the company’s stock worth $1,266,000 after acquiring an additional 22,623 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Biodesix by 33.3% in the first quarter. Blair William & Co. IL now owns 124,100 shares of the company’s stock worth $78,000 after acquiring an additional 31,000 shares in the last quarter. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Biodesix Company Profile

Biodesix, Inc operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules.