Biodesix (NASDAQ:BDSX) Given New $30.00 Price Target at Lake Street Capital

Biodesix (NASDAQ:BDSX) had its price objective trimmed by Lake Street Capital from $40.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on BDSX. Canaccord Genuity Group lifted their target price on shares of Biodesix from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 10th. HC Wainwright dropped their price target on shares of Biodesix from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday. TD Cowen restated a “buy” rating and set a $40.00 price target (up from $30.00) on shares of Biodesix in a report on Tuesday, October 13th. Finally, Weiss Ratings raised shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Biodesix Price Performance

Shares of NASDAQ:BDSX opened at $8.53 on Friday. The company’s fifty day moving average is $25.53 and its two-hundred day moving average is $18.90. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 5.12. Biodesix has a 12-month low of $5.26 and a 12-month high of $31.97. The company has a market cap of $90.00 million, a P/E ratio of -3.09 and a beta of 0.65.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.75). The business had revenue of $24.04 million during the quarter, compared to analyst estimates of $27.49 million. Biodesix had a negative net margin of 25.74% and a negative return on equity of 513.78%. Equities analysts expect that Biodesix will post -2.68 earnings per share for the current fiscal year.

Insider Transactions at Biodesix

In related news, Director Jack Schuler purchased 15,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the acquisition, the director directly owned 555,810 shares in the company, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.20% of the stock is owned by insiders.

Institutional Trading of Biodesix

Institutional investors and hedge funds have recently modified their holdings of the company. AIGH Capital Management LLC bought a new stake in Biodesix during the second quarter valued at about $15,296,000. Walleye Capital LLC acquired a new position in shares of Biodesix during the 2nd quarter worth about $1,679,000. Stempoint Capital LP acquired a new position in shares of Biodesix during the 1st quarter worth about $1,015,000. GSA Capital Partners LLP bought a new stake in Biodesix during the 2nd quarter valued at approximately $1,060,000. Finally, BlackRock Inc. bought a new stake in Biodesix during the 2nd quarter valued at approximately $970,000. 20.96% of the stock is currently owned by institutional investors and hedge funds.

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.