Biodesix (NASDAQ:BDSX) Upgraded to Strong-Buy at Roth Mkm

Biodesix (NASDAQ:BDSX) was upgraded by stock analysts at Roth Mkm to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

BDSX has been the subject of a number of other reports. William Blair upgraded Biodesix from a “market perform” rating to an “outperform” rating in a research note on Friday, February 27th. Weiss Ratings upgraded Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. HC Wainwright assumed coverage on Biodesix in a report on Monday, June 15th. They issued a “buy” rating and a $26.00 price target for the company. Finally, Canaccord Genuity Group raised their price objective on Biodesix from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Biodesix Trading Up 7.3%

NASDAQ BDSX opened at $20.04 on Wednesday. The firm has a market capitalization of $207.61 million, a price-to-earnings ratio of -4.94 and a beta of 0.59. The company has a debt-to-equity ratio of 5.09, a quick ratio of 2.82 and a current ratio of 2.82. Biodesix has a one year low of $5.01 and a one year high of $22.22. The company’s 50 day moving average price is $14.66 and its 200 day moving average price is $12.58.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.32. The company had revenue of $25.55 million during the quarter, compared to analyst estimates of $23.12 million. Biodesix had a negative net margin of 33.26% and a negative return on equity of 2,101.40%. On average, sell-side analysts predict that Biodesix will post -2.93 EPS for the current year.

Hedge Funds Weigh In On Biodesix

Several large investors have recently bought and sold shares of BDSX. XTX Topco Ltd lifted its holdings in shares of Biodesix by 99.4% in the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after buying an additional 102,494 shares during the period. Cetera Investment Advisers acquired a new position in shares of Biodesix in the 4th quarter worth approximately $68,000. DRW Securities LLC bought a new stake in shares of Biodesix in the 4th quarter worth approximately $105,000. Oracle Investment Management Inc. acquired a new stake in Biodesix during the third quarter valued at approximately $113,000. Finally, Millennium Management LLC bought a new stake in Biodesix during the third quarter worth approximately $113,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

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.