Biodesix, Inc. (NASDAQ:BDSX) Receives $28.33 Consensus Price Target from Analysts

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

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

Biodesix Stock Performance

Shares of Biodesix stock opened at $22.32 on Friday. Biodesix has a fifty-two week low of $5.26 and a fifty-two week high of $24.92. 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 firm has a market capitalization of $231.24 million, a P/E ratio of -5.50 and a beta of 0.53. The company’s 50 day moving average price is $18.10 and its two-hundred day moving average price is $14.61.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Monday, May 4th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates 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 $25.55 million for the quarter, compared to analysts’ expectations of $23.12 million. On average, equities analysts forecast that Biodesix will post -2.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biodesix

Several hedge funds have recently added to or reduced their stakes in BDSX. AIGH Capital Management LLC bought a new position in shares of Biodesix during the first quarter valued at $10,996,000. Aberdeen Group plc bought a new stake in shares of Biodesix in the fourth quarter worth $1,784,000. XTX Topco Ltd grew its stake in shares of 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 purchasing an additional 102,494 shares during the last quarter. Stempoint Capital LP acquired a new stake in Biodesix in the first quarter valued at $1,015,000. Finally, Sei Investments Co. acquired a new stake in Biodesix in the first quarter valued at $624,000. 20.96% of the stock is currently 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.