Biodesix, Inc. (NASDAQ:BDSX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Biodesix, Inc. (NASDAQ:BDSX) have been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $28.3333.

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

Biodesix Stock Down 1.4%

Shares of BDSX opened at $22.00 on Friday. 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 business has a fifty day moving average of $18.26 and a 200 day moving average of $14.67. The company has a market cap of $227.92 million, a PE ratio of -5.42 and a beta of 0.53. Biodesix has a 52-week low of $5.26 and a 52-week high of $24.92.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.81) earnings per share for the quarter, beating 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 business had revenue of $25.55 million for the quarter, compared to analysts’ expectations of $23.12 million. On average, sell-side analysts expect that Biodesix will post -2.91 EPS for the current year.

Institutional Investors Weigh In On Biodesix

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd boosted its holdings in Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after acquiring an additional 102,494 shares during the period. Cetera Investment Advisers bought a new position in Biodesix in the 4th quarter valued at $68,000. DRW Securities LLC purchased a new stake in Biodesix in the fourth quarter worth $105,000. Millennium Management LLC purchased a new stake in Biodesix in the third quarter worth $113,000. Finally, State Street Corp lifted its position in shares of Biodesix by 15.6% during the fourth quarter. State Street Corp now owns 17,802 shares of the company’s stock worth $121,000 after purchasing an additional 2,400 shares during the last quarter. 20.96% of the stock is owned by institutional investors.

About Biodesix

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.