Brokerages Set Biodesix, Inc. (NASDAQ:BDSX) Price Target at $31.33

Biodesix, Inc. (NASDAQ:BDSX) has received an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $31.3333.

BDSX has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Biodesix from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Roth Capital started coverage on Biodesix in a research report on Wednesday, June 24th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective (up from $26.00) on shares of Biodesix in a report on Thursday, August 6th.

Insiders Place Their Bets

In other news, Director Jack W. Schuler bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average price of $24.47 per share, with a total value of $367,050.00. Following the acquisition, the director owned 555,810 shares of the company’s stock, valued at approximately $13,600,670.70. This represents a 2.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 42,600 shares of company stock valued at $1,033,062. Corporate insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Biodesix

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AIGH Capital Management LLC bought a new position in shares of Biodesix in the first quarter worth about $10,996,000. Sei Investments Co. bought a new stake in Biodesix during the 1st quarter valued at approximately $624,000. Walleye Capital LLC bought a new stake in Biodesix during the 2nd quarter valued at approximately $1,679,000. Stempoint Capital LP purchased a new position in Biodesix in the 1st quarter worth approximately $1,015,000. Finally, Thompson Davis & CO. Inc. purchased a new position in Biodesix in the 1st quarter worth approximately $170,000. 20.96% of the stock is owned by institutional investors.

Biodesix Stock Performance

Shares of BDSX stock opened at $23.25 on Thursday. The company has a market capitalization of $245.29 million, a price-to-earnings ratio of -7.33 and a beta of 0.56. The company has a debt-to-equity ratio of 5.12, a quick ratio of 2.85 and a current ratio of 2.85. Biodesix has a one year low of $5.26 and a one year high of $25.52. The company’s 50-day moving average is $20.67 and its 200 day moving average is $16.32.

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

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.