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

Shares of Biodesix, Inc. (NASDAQ:BDSX) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $32.50.

A number of equities analysts recently commented on BDSX shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price target on shares of Biodesix in a research note on Tuesday, February 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd. Finally, William Blair raised Biodesix from a “market perform” rating to an “outperform” rating in a report on Friday, February 27th.

Biodesix Trading Up 5.1%

NASDAQ BDSX opened at $14.50 on Wednesday. The company has a market capitalization of $142.97 million, a price-to-earnings ratio of -2.99 and a beta of 0.59. The company has a debt-to-equity ratio of 41.11, a current ratio of 1.87 and a quick ratio of 1.86. Biodesix has a 12 month low of $3.44 and a 12 month high of $20.21. The company’s fifty day moving average price is $13.60 and its two-hundred day moving average price is $9.56.

Biodesix (NASDAQ:BDSX) last released its earnings results on Thursday, February 26th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.56. The company had revenue of $28.76 million during the quarter, compared to the consensus estimate of $26.25 million. Biodesix had a negative net margin of 39.85% and a negative return on equity of 1,760.83%. As a group, research analysts predict that Biodesix will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Biodesix

In other news, Director Jack W. Schuler acquired 20,000 shares of Biodesix stock in a transaction that occurred on Monday, January 26th. The shares were purchased at an average cost of $11.80 per share, for a total transaction of $236,000.00. Following the completion of the purchase, the director directly owned 1,563,210 shares of the company’s stock, valued at $18,445,878. This trade represents a 1.30% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Hutton sold 3,559 shares of Biodesix stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total transaction of $35,874.72. Following the completion of the transaction, the chief executive officer directly owned 45,413 shares of the company’s stock, valued at approximately $457,763.04. This represents a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have purchased 182,465 shares of company stock worth $2,084,616 and have sold 10,999 shares worth $116,095. Corporate insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Biodesix

A number of institutional investors have recently modified their holdings of BDSX. Aberdeen Group plc acquired a new stake in Biodesix during the fourth quarter worth about $1,784,000. XTX Topco Ltd lifted its holdings in Biodesix by 99.4% in the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after acquiring an additional 102,494 shares during the last quarter. Trexquant Investment LP acquired a new position in Biodesix in the fourth quarter valued at approximately $187,000. DRW Securities LLC acquired a new position in Biodesix in the fourth quarter valued at approximately $105,000. Finally, Oracle Investment Management Inc. bought a new position in shares of Biodesix during the third quarter valued at approximately $113,000. Institutional investors own 20.96% of the company’s stock.

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.