Biodesix, Inc. (NASDAQ:BDSX) Stock Has Consensus Target Price of $36.25

Biodesix, Inc. (NASDAQ:BDSX) has been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $36.25.

A number of analysts recently issued reports on BDSX shares. Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. HC Wainwright reiterated a “buy” rating on shares of Biodesix in a report on Thursday. Canaccord Genuity Group increased their price objective on shares of Biodesix from $27.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, TD Cowen restated a “buy” rating and set a $40.00 price objective (up from $30.00) on shares of Biodesix in a report on Tuesday, October 13th.

Insider Buying and Selling

In related news, Director Jack Schuler bought 15,000 shares of Biodesix stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $24.47 per share, with a total value of $367,050.00. Following the purchase, the director owned 555,810 shares in the company, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have acquired 42,600 shares of company stock valued at $1,033,062. Insiders own 23.20% of the company’s stock.

Institutional Trading of Biodesix

Hedge funds and other institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC acquired a new stake in shares of Biodesix in the 1st quarter valued at about $10,996,000. Walleye Capital LLC acquired a new position in shares of Biodesix during the second quarter worth about $1,679,000. Stempoint Capital LP acquired a new position in shares of Biodesix during the first quarter worth about $1,015,000. GSA Capital Partners LLP bought a new position in shares of Biodesix during the second quarter worth about $1,060,000. Finally, BlackRock Inc. bought a new position in shares of Biodesix during the second quarter worth about $970,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

Biodesix Trading Up 0.4%

NASDAQ BDSX opened at $21.26 on Tuesday. The firm has a market cap of $224.29 million, a P/E ratio of -6.71 and a beta of 0.56. The company has a debt-to-equity ratio of 5.12, a current ratio of 2.85 and a quick ratio of 2.85. The stock’s 50-day moving average is $26.51 and its 200-day moving average is $18.31. Biodesix has a one year low of $5.26 and a one year high of $31.97.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.19. Biodesix had a negative return on equity of 788.19% and a negative net margin of 26.97%. The business had revenue of $26.86 million for the quarter, compared to analysts’ expectations of $26.03 million. Sell-side analysts anticipate that Biodesix will post -2.68 earnings per share for the current fiscal year.

Biodesix Company Profile

Biodesix, Inc is a data-driven diagnostic solutions company focused on improving the diagnosis and treatment of lung diseases, including lung cancer. The company combines proprietary molecular diagnostic technologies, clinical data, and artificial intelligence to help physicians assess disease risk and make more informed treatment decisions.

Its offerings include blood-based tests designed to help evaluate indeterminate pulmonary nodules, identify patients who may be at higher risk of lung cancer, and support treatment selection and monitoring.