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

Shares of Biodesix, Inc. (NASDAQ:BDSX) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $32.50.

A number of research firms recently weighed in on BDSX. Canaccord Genuity Group set a $20.00 price target on shares of Biodesix and gave the company a “buy” rating in a report on Friday, September 19th. Wall Street Zen raised shares of Biodesix from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 15th.

Biodesix Stock Performance

Shares of NASDAQ:BDSX opened at $6.69 on Monday. The business’s 50-day simple moving average is $7.41 and its 200 day simple moving average is $7.33. The company has a market cap of $53.25 million, a P/E ratio of -1.20 and a beta of 0.62. The company has a debt-to-equity ratio of 41.11, a quick ratio of 1.84 and a current ratio of 1.84. Biodesix has a one year low of $3.44 and a one year high of $32.20.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($1.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.60) by $0.44. The company had revenue of $21.77 million during the quarter, compared to the consensus estimate of $20.98 million. Biodesix had a negative net margin of 49.31% and a negative return on equity of 504.41%. On average, sell-side analysts forecast that Biodesix will post -0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biodesix

Several hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its stake in shares of Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after buying an additional 102,494 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Biodesix in the third quarter worth $113,000. Oracle Investment Management Inc. acquired a new stake in Biodesix in the third quarter valued at $113,000. Finally, Birchview Capital LP raised its holdings in Biodesix by 2.8% in the first quarter. Birchview Capital LP now owns 5,736,113 shares of the company’s stock valued at $3,586,000 after acquiring an additional 154,937 shares in the last quarter. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

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.