Biodesix, Inc. (NASDAQ:BDSX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Biodesix, Inc. (NASDAQ:BDSX) has received a consensus rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $28.3333.

BDSX has been the topic of a number of recent research reports. HC Wainwright assumed coverage on Biodesix in a report on Monday, June 15th. They set a “buy” rating and a $26.00 price objective on the stock. Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Roth Capital started coverage on Biodesix in a research report on Wednesday, June 24th. They set a “buy” rating and a $32.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on shares of Biodesix from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, June 18th.

Biodesix Stock Performance

NASDAQ BDSX opened at $20.19 on Friday. The company’s 50 day moving average is $17.63 and its 200-day moving average is $14.15. Biodesix has a 12-month low of $5.26 and a 12-month high of $24.92. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 5.09. The firm has a market cap of $209.09 million, a P/E ratio of -4.97 and a beta of 0.53.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.32. Biodesix had a negative net margin of 33.26% and a negative return on equity of 2,101.40%. The company had revenue of $25.55 million during the quarter, compared to the consensus estimate of $23.12 million. Sell-side analysts predict that Biodesix will post -2.91 earnings per share for the current year.

Institutional Trading of Biodesix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers increased its position in shares of Biodesix by 20.0% in the first quarter. Cetera Investment Advisers now owns 12,000 shares of the company’s stock worth $174,000 after purchasing an additional 2,000 shares during the last quarter. Geode Capital Management LLC lifted its position in Biodesix by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock valued at $289,000 after purchasing an additional 2,235 shares during the last quarter. State Street Corp lifted its position in Biodesix by 15.6% during the fourth quarter. State Street Corp now owns 17,802 shares of the company’s stock valued at $121,000 after purchasing an additional 2,400 shares during the last quarter. Walleye Capital LLC purchased a new position in Biodesix in the 1st quarter worth approximately $157,000. Finally, Thompson Davis & CO. Inc. purchased a new position in Biodesix in the 1st quarter worth approximately $170,000. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

About Biodesix

Biodesix, Inc is a commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer. The company integrates advanced proteomic and, more recently, genomic technologies to offer noninvasive testing solutions designed to guide clinical decision-making. Biodesix operates a CLIA-certified and CAP-accredited laboratory, allowing it to process patient samples at scale and maintain rigorous quality standards.

The company’s flagship product, VeriStrat®, is a proteomic test that stratifies patients with non-small cell lung cancer into groups more likely to benefit from specific therapies.