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

Biodesix, Inc. (NASDAQ:BDSX) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $31.3333.

Several research firms have weighed in on BDSX. Canaccord Genuity Group increased 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. Weiss Ratings raised shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target (up from $26.00) on shares of Biodesix in a research report on Thursday, August 6th. Finally, Roth Capital began coverage on Biodesix in a research note on Wednesday, June 24th. They issued a “buy” rating and a $32.00 price target for the company.

Insider Transactions at Biodesix

In other Biodesix news, Director Jack Schuler purchased 15,000 shares of the stock in a transaction dated 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have purchased 42,600 shares of company stock valued at $1,033,062 over the last quarter. Company insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On Biodesix

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Biodesix during the 2nd quarter valued at $970,000. AIGH Capital Management LLC acquired a new position in Biodesix in the 1st quarter worth about $10,996,000. Sei Investments Co. bought a new position in Biodesix in the first quarter valued at about $624,000. GSA Capital Partners LLP acquired a new stake in shares of Biodesix during the second quarter valued at about $1,060,000. Finally, Walleye Capital LLC bought a new stake in shares of Biodesix during the second quarter worth about $1,679,000. Institutional investors own 20.96% of the company’s stock.

Biodesix Stock Performance

BDSX opened at $27.08 on Monday. Biodesix has a 52-week low of $5.26 and a 52-week high of $31.31. The firm has a market capitalization of $285.69 million, a PE ratio of -8.54 and a beta of 0.60. The company has a debt-to-equity ratio of 5.12, a quick ratio of 2.85 and a current ratio of 2.85. The business’s 50-day simple moving average is $23.46 and its 200 day simple moving average is $18.18.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.19. Biodesix had a negative return on equity of 788.19% and a negative net margin of 26.97%.The firm had revenue of $26.86 million during the quarter, compared to the consensus estimate of $26.03 million. As a group, sell-side analysts expect that Biodesix will post -2.68 earnings per share 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.