Biodesix, Inc. (NASDAQ:BDSX) Receives $32.50 Consensus Target Price from Brokerages

Biodesix, Inc. (NASDAQ:BDSX) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $32.50.

A number of equities research analysts have recently issued reports on BDSX shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Biodesix in a research note on Tuesday, February 17th. William Blair upgraded shares of Biodesix from a “market perform” rating to an “outperform” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd.

Biodesix Stock Performance

NASDAQ:BDSX opened at $17.88 on Friday. The company has a market capitalization of $176.30 million, a price-to-earnings ratio of -3.69 and a beta of 0.59. The business has a 50 day moving average of $11.71 and a 200 day moving average of $9.01. The company has a debt-to-equity ratio of 41.11, a current ratio of 1.87 and a quick ratio of 1.86. Biodesix has a 1-year low of $3.44 and a 1-year high of $20.21.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.56. The business had revenue of $28.76 million for the quarter, compared to analysts’ expectations of $26.25 million. Biodesix had a negative net margin of 39.85% and a negative return on equity of 1,760.83%. On average, sell-side analysts predict that Biodesix will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Biodesix

In related news, CEO Scott Hutton sold 3,559 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total transaction of $35,874.72. Following the completion of the sale, the chief executive officer directly owned 45,413 shares in the company, valued at $457,763.04. This represents a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack W. Schuler bought 82,465 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were bought at an average price of $10.96 per share, with a total value of $903,816.40. Following the completion of the acquisition, the director directly owned 1,463,210 shares in the company, valued at $16,036,781.60. This trade represents a 5.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 182,465 shares of company stock worth $2,084,616 and have sold 10,999 shares worth $116,095. 30.10% of the stock is currently owned by company insiders.

Institutional Trading of Biodesix

Several hedge funds and other institutional investors have recently bought and sold shares of BDSX. Aberdeen Group plc purchased a new stake in shares of Biodesix during the fourth quarter valued at approximately $1,784,000. XTX Topco Ltd increased its stake in shares of 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 buying an additional 102,494 shares during the period. Monashee Investment Management LLC increased its stake in shares of Biodesix by 12.3% in the fourth quarter. Monashee Investment Management LLC now owns 112,344 shares of the company’s stock worth $764,000 after buying an additional 12,348 shares during the period. Geode Capital Management LLC raised its holdings in Biodesix by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock valued at $289,000 after buying an additional 2,235 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Biodesix during the 4th quarter valued at $187,000. Institutional investors own 20.96% of the company’s stock.

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.