Lake Street Capital Issues Pessimistic Forecast for Biodesix (NASDAQ:BDSX) Stock Price

Biodesix (NASDAQ:BDSX) had its target price cut by analysts at Lake Street Capital from $40.00 to $30.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital‘s price target indicates a potential upside of 251.70% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. TD Cowen reissued a “buy” rating and set a $40.00 price objective (up from $30.00) on shares of Biodesix in a research note on Tuesday, October 13th. Canaccord Genuity Group boosted their price objective on Biodesix from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, HC Wainwright dropped their target price on Biodesix from $38.00 to $34.00 and set a “buy” rating for the company in a report on Monday. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Biodesix Price Performance

BDSX stock opened at $8.53 on Friday. The company has a market cap of $90.00 million, a price-to-earnings ratio of -3.09 and a beta of 0.65. The company has a current ratio of 2.85, a quick 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 firm has a 50-day moving average of $25.53 and a two-hundred day moving average of $18.90.

Biodesix (NASDAQ:BDSX) last released its earnings results on Thursday, November 5th. The company reported ($0.75) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.75). The business had revenue of $24.04 million for 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%. As a group, analysts forecast that Biodesix will post -2.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jack Schuler bought 15,000 shares of Biodesix stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $24.47 per share, with a total value of $367,050.00. Following the completion of the purchase, the director directly owned 555,810 shares of the company’s stock, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.20% of the stock is owned by company insiders.

Institutional Trading of Biodesix

Several hedge funds have recently made changes to their positions in the company. Allworth Financial LP purchased a new position in Biodesix in the second quarter worth approximately $112,000. Walleye Capital LLC acquired a new stake in Biodesix during the first quarter worth $157,000. Renaissance Technologies LLC acquired a new stake in Biodesix during the first quarter worth $173,000. Cetera Investment Advisers raised its position in 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. Finally, Squarepoint Ops LLC purchased a new stake in Biodesix in the second quarter valued at $354,000. Hedge funds and other institutional investors own 20.96% of the company’s stock.

About Biodesix

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.