Biodesix (NASDAQ:BDSX) Rating Increased to Strong-Buy at HC Wainwright

HC Wainwright upgraded shares of Biodesix (NASDAQ:BDSX) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

BDSX has been the subject of a number of other research reports. Canaccord Genuity Group boosted their target price on Biodesix from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. William Blair upgraded Biodesix from a “market perform” rating to an “outperform” rating in a research report on Friday, February 27th. Finally, Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Biodesix Price Performance

BDSX opened at $15.60 on Monday. Biodesix has a one year low of $5.00 and a one year high of $20.21. The company has a debt-to-equity ratio of 5.09, a current ratio of 2.82 and a quick ratio of 2.82. The company’s 50 day simple moving average is $14.09 and its 200-day simple moving average is $12.05. The stock has a market capitalization of $161.62 million, a P/E ratio of -3.84 and a beta of 0.59.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.81) earnings per share 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 firm had revenue of $25.56 million during the quarter, compared to analysts’ expectations of $23.12 million. Sell-side analysts anticipate that Biodesix will post -2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biodesix

A number of institutional investors have recently made changes to their positions in the stock. AIGH Capital Management LLC bought a new stake in Biodesix in the first quarter valued at about $10,996,000. Aberdeen Group plc acquired a new position in shares of Biodesix during the 4th quarter worth about $1,784,000. XTX Topco Ltd increased its stake in shares of Biodesix by 99.4% in the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after acquiring an additional 102,494 shares during the last quarter. Stempoint Capital LP bought a new stake in shares of Biodesix in the 1st quarter valued at about $1,015,000. Finally, Sei Investments Co. acquired a new stake in shares of Biodesix in the 1st quarter valued at approximately $624,000. 20.96% of the stock is owned by institutional investors and hedge funds.

Biodesix Company Profile

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.