Biodesix (NASDAQ:BDSX) Raised to “Strong-Buy” at Roth Mkm

Biodesix (NASDAQ:BDSX) was upgraded by equities researchers at Roth Mkm to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. HC Wainwright initiated coverage on shares of Biodesix in a report on Monday, June 15th. They issued a “buy” rating and a $26.00 price target on the stock. Canaccord Genuity Group boosted their target price on Biodesix from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. William Blair raised Biodesix from a “market perform” rating to an “outperform” rating in a research report on Friday, February 27th. Finally, Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Biodesix currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Biodesix Stock Performance

BDSX stock opened at $20.04 on Wednesday. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 5.09. The firm has a market cap of $207.61 million, a PE ratio of -4.94 and a beta of 0.59. The business has a 50 day moving average of $14.66 and a 200-day moving average of $12.58. Biodesix has a 12-month low of $5.01 and a 12-month high of $22.22.

Biodesix (NASDAQ:BDSX) last announced its earnings results on Monday, May 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.32. Biodesix had a negative return on equity of 2,101.40% and a negative net margin of 33.26%.The firm had revenue of $25.55 million during the quarter, compared to analyst estimates of $23.12 million. As a group, sell-side analysts expect that Biodesix will post -2.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Group plc purchased a new position in Biodesix during the fourth quarter valued at approximately $1,784,000. Oracle Investment Management Inc. bought a new position in Biodesix in the 3rd quarter valued at $113,000. Renaissance Technologies LLC bought a new position in Biodesix in the 1st quarter valued at $173,000. Sei Investments Co. purchased a new position in shares of Biodesix during the 1st quarter valued at $624,000. Finally, Cetera Investment Advisers increased its holdings in shares of Biodesix by 20.0% in the first quarter. Cetera Investment Advisers now owns 12,000 shares of the company’s stock worth $174,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 20.96% of the company’s stock.

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.