Biodesix, Inc. (NASDAQ:BDSX) Receives $31.33 Consensus Price Target from Brokerages

Shares of Biodesix, Inc. (NASDAQ:BDSX) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $31.3333.

A number of research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $27.00 target price (up from $26.00) on shares of Biodesix in a research report on Thursday, August 6th. Canaccord Genuity Group upped their price objective on Biodesix from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Finally, Roth Capital began coverage on Biodesix in a research report on Wednesday, June 24th. They issued a “buy” rating and a $32.00 target price for the company.

Insider Activity at Biodesix

In other news, Director Jack W. Schuler purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the purchase, the director owned 555,810 shares of the company’s stock, valued at $13,600,670.70. The trade was a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 42,600 shares of company stock worth $1,033,062. 23.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biodesix

Several institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its position in Biodesix by 99.4% during the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after purchasing an additional 102,494 shares during the period. Cetera Investment Advisers bought a new stake in shares of Biodesix in the fourth quarter valued at approximately $68,000. DRW Securities LLC purchased a new stake in shares of Biodesix during the 4th quarter valued at approximately $105,000. Allworth Financial LP purchased a new stake in shares of Biodesix during the 2nd quarter valued at approximately $112,000. Finally, Millennium Management LLC purchased a new stake in shares of Biodesix during the 3rd quarter valued at approximately $113,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

Biodesix Price Performance

Shares of NASDAQ:BDSX opened at $25.54 on Thursday. The company’s 50-day moving average is $21.02 and its 200 day moving average is $16.51. The company has a debt-to-equity ratio of 5.12, a quick ratio of 2.85 and a current ratio of 2.85. The company has a market capitalization of $269.45 million, a P/E ratio of -8.06 and a beta of 0.56. Biodesix has a fifty-two week low of $5.26 and a fifty-two week high of $26.40.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.19. The business had revenue of $26.86 million during the quarter, compared to the consensus estimate of $26.03 million. Biodesix had a negative net margin of 26.97% and a negative return on equity of 788.19%. On average, equities research analysts forecast that Biodesix will post -2.68 earnings per share for the current year.

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.