Biodesix, Inc. (NASDAQ:BDSX) Receives $31.33 Average Target Price from Analysts

Shares of Biodesix, Inc. (NASDAQ:BDSX) have earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $31.3333.

Several research analysts have recently issued reports on BDSX shares. HC Wainwright reiterated a “buy” rating and set a $27.00 price target (up from $26.00) on shares of Biodesix in a report on Thursday, August 6th. Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. 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 report on Monday, August 10th. Finally, Roth Capital initiated coverage on Biodesix in a report on Wednesday, June 24th. They issued a “buy” rating and a $32.00 target price for the company.

Biodesix Trading Up 3.6%

BDSX opened at $26.97 on Monday. The company’s 50 day moving average is $23.64 and its 200-day moving average is $18.33. Biodesix has a 1-year low of $5.26 and a 1-year high of $31.31. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 5.12. The company has a market cap of $284.56 million, a P/E ratio of -8.51 and a beta of 0.60.

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

Insider Activity at Biodesix

In other news, Director Jack Schuler purchased 15,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $24.47 per share, with a total value of $367,050.00. Following the completion of the transaction, the director owned 555,810 shares of the company’s stock, valued at $13,600,670.70. The trade was a 2.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 42,600 shares of company stock worth $1,033,062 over the last quarter. Company insiders own 23.20% of the company’s stock.

Institutional Trading of Biodesix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd boosted its position in Biodesix by 99.4% in the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after purchasing an additional 102,494 shares during the last quarter. Cetera Investment Advisers bought a new stake in Biodesix in the fourth quarter worth about $68,000. DRW Securities LLC bought a new stake in Biodesix in the fourth quarter worth about $105,000. Allworth Financial LP purchased a new position in Biodesix in the second quarter valued at about $112,000. Finally, Millennium Management LLC bought a new position in shares of Biodesix during the 3rd quarter valued at approximately $113,000. 20.96% of the stock is owned by institutional investors.

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.