BTIG Research Trims Biodesix (NASDAQ:BDSX) Target Price to $22.00

Biodesix (NASDAQ:BDSX) had its price target decreased by BTIG Research from $28.00 to $22.00 in a report published on Thursday, The Fly reports. BTIG Research currently has a buy rating on the stock.

Several other research firms have also recently weighed in on BDSX. Zacks Investment Research cut shares of Biodesix from a hold rating to a sell rating in a research note on Friday, August 13th. Canaccord Genuity reduced their target price on shares of Biodesix from $31.00 to $27.00 and set a buy rating for the company in a research note on Wednesday, August 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Biodesix has an average rating of Buy and an average target price of $24.75.

Shares of NASDAQ:BDSX opened at $8.62 on Thursday. The company has a market cap of $232.49 million and a P/E ratio of -0.26. The stock’s 50-day moving average is $9.07 and its 200-day moving average is $13.63. Biodesix has a 52-week low of $6.52 and a 52-week high of $31.99.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings results on Monday, August 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.12). The firm had revenue of $11.89 million during the quarter, compared to the consensus estimate of $19.70 million. Research analysts predict that Biodesix will post -1.55 EPS for the current fiscal year.

In other Biodesix news, Chairman John Patience acquired 8,396 shares of the business’s stock in a transaction on Thursday, August 19th. The stock was purchased at an average price of $8.04 per share, for a total transaction of $67,503.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack W. Schuler bought 232,000 shares of the firm’s stock in a transaction dated Friday, August 13th. The shares were acquired at an average price of $7.50 per share, for a total transaction of $1,740,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 321,440 shares of company stock valued at $2,414,804. Corporate insiders own 53.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of Biodesix by 278.2% during the second quarter. Deutsche Bank AG now owns 7,291 shares of the company’s stock worth $96,000 after purchasing an additional 5,363 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Biodesix by 229.0% during the second quarter. New York State Common Retirement Fund now owns 10,529 shares of the company’s stock valued at $139,000 after acquiring an additional 7,329 shares during the period. JPMorgan Chase & Co. lifted its stake in Biodesix by 30.0% in the second quarter. JPMorgan Chase & Co. now owns 10,728 shares of the company’s stock valued at $141,000 after buying an additional 2,475 shares during the period. Trexquant Investment LP acquired a new position in Biodesix in the second quarter valued at about $157,000. Finally, Bank of New York Mellon Corp lifted its stake in Biodesix by 24.0% in the first quarter. Bank of New York Mellon Corp now owns 13,801 shares of the company’s stock valued at $280,000 after buying an additional 2,675 shares during the period. Institutional investors own 18.99% of the company’s stock.

Biodesix Company Profile

Biodesix, Inc operates a data-driven diagnostic solutions company in the United States. The company offers blood-based tests across the lung cancer continuum of care, such as Nodify XL2 and Nodify CDT tests to help physicians reclassify risk of malignancy in patients with suspicious lung nodules; and GeneStrat tumor profiling and VeriStrat immune profiling tests that provide physicians with timely results to facilitate treatment decisions.

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