Biodesix, Inc. (NASDAQ:BDSX) Receives $2.95 Consensus Target Price from Brokerages

Shares of Biodesix, Inc. (NASDAQ:BDSX) have been given an average rating of “Buy” by the six analysts that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is $2.86.

BDSX has been the topic of several recent research reports. Canaccord Genuity Group dropped their price target on Biodesix from $3.50 to $2.50 and set a “buy” rating on the stock in a research report on Tuesday. William Blair restated an “outperform” rating on shares of Biodesix in a research report on Tuesday, March 4th.

Biodesix Stock Down 1.6 %

Biodesix stock opened at $0.53 on Tuesday. Biodesix has a fifty-two week low of $0.45 and a fifty-two week high of $2.04. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.40 and a current ratio of 3.40. The company has a market capitalization of $77.03 million, a P/E ratio of -1.35 and a beta of 1.17. The stock has a 50-day simple moving average of $0.67 and a 200-day simple moving average of $1.08.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Monday, March 3rd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. The business had revenue of $20.43 million during the quarter, compared to the consensus estimate of $19.92 million. Equities research analysts expect that Biodesix will post -0.35 earnings per share for the current year.

Insider Activity at Biodesix

In other Biodesix news, CEO Scott Hutton sold 83,660 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $0.92, for a total transaction of $76,967.20. Following the transaction, the chief executive officer now owns 701,947 shares in the company, valued at approximately $645,791.24. The trade was a 10.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 128,702 shares of company stock worth $118,406 in the last quarter. Company insiders own 69.20% of the company’s stock.

Hedge Funds Weigh In On Biodesix

Several institutional investors and hedge funds have recently added to or reduced their stakes in BDSX. Wilmington Savings Fund Society FSB acquired a new position in Biodesix during the 3rd quarter worth approximately $10,849,000. Samjo Management LLC acquired a new stake in shares of Biodesix in the 4th quarter worth approximately $3,790,000. Susquehanna International Group LLP grew its holdings in shares of Biodesix by 769.8% in the 4th quarter. Susquehanna International Group LLP now owns 1,115,748 shares of the company’s stock worth $1,707,000 after acquiring an additional 987,475 shares during the period. Silverarc Capital Management LLC grew its holdings in shares of Biodesix by 21.7% in the 4th quarter. Silverarc Capital Management LLC now owns 4,332,281 shares of the company’s stock worth $6,628,000 after acquiring an additional 771,187 shares during the period. Finally, AIGH Capital Management LLC grew its holdings in shares of Biodesix by 8.8% in the 4th quarter. AIGH Capital Management LLC now owns 6,179,812 shares of the company’s stock worth $9,455,000 after acquiring an additional 500,000 shares during the period. Institutional investors and hedge funds own 20.96% of the company’s stock.

About Biodesix

Biodesix, Inc operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules.