Biodesix, Inc. (NASDAQ:BDSX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Biodesix, Inc. (NASDAQ:BDSX) have earned an average rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $28.3333.

A number of equities research analysts have weighed in on the company. Roth Mkm started coverage on Biodesix in a report on Wednesday, June 24th. They issued a “buy” rating and a $32.00 price objective on the stock. Canaccord Genuity Group raised their price target on Biodesix from $22.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, June 18th. HC Wainwright began coverage on Biodesix in a research note on Monday, June 15th. They issued a “buy” rating and a $26.00 price target on the stock. Finally, Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th.

Biodesix Stock Performance

NASDAQ:BDSX opened at $22.55 on Wednesday. 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 cap of $233.62 million, a price-to-earnings ratio of -5.55 and a beta of 0.59. The firm’s fifty day moving average price is $15.27 and its 200 day moving average price is $12.90. Biodesix has a 1-year low of $5.26 and a 1-year high of $24.34.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.32. The company had revenue of $25.56 million during the quarter, compared to the consensus estimate of $23.12 million. Biodesix had a negative net margin of 33.26% and a negative return on equity of 2,101.40%. On average, sell-side analysts expect that Biodesix will post -2.91 EPS for the current year.

Hedge Funds Weigh In On Biodesix

A number of large investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its stake in shares of Biodesix by 20.0% in the first quarter. Cetera Investment Advisers now owns 12,000 shares of the company’s stock valued at $174,000 after purchasing an additional 2,000 shares during the period. Geode Capital Management LLC grew its position in Biodesix by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock worth $289,000 after buying an additional 2,235 shares during the period. State Street Corp increased its holdings in Biodesix by 15.6% in the fourth quarter. State Street Corp now owns 17,802 shares of the company’s stock valued at $121,000 after buying an additional 2,400 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Biodesix during the 1st quarter valued at approximately $157,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Biodesix during the 1st quarter valued at approximately $170,000. 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.