Biodesix, Inc. (NASDAQ:BDSX) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Biodesix, Inc. (NASDAQ:BDSX) have earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $35.00.

Several equities research analysts have recently weighed in on BDSX shares. Roth Capital assumed coverage on Biodesix in a research report on Wednesday, June 24th. They set a “buy” rating and a $32.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target (up from $27.00) on shares of Biodesix in a research note on Friday, September 25th. Weiss Ratings raised shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Finally, Canaccord Genuity Group boosted their price objective on shares of Biodesix from $27.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, August 10th.

Biodesix Price Performance

Biodesix stock opened at $25.63 on Friday. 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 fifty day simple moving average of $26.41 and a 200-day simple moving average of $19.97. The stock has a market cap of $270.40 million, a P/E ratio of -8.09 and a beta of 0.56. Biodesix has a 12-month low of $5.26 and a 12-month high of $31.97.

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

Insider Buying and Selling

In related news, Director Jack Schuler purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $24.47 per share, for a total transaction of $367,050.00. Following the purchase, the director directly owned 555,810 shares of the company’s stock, valued at $13,600,670.70. The trade was a 2.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 42,600 shares of company stock worth $1,033,062. 23.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biodesix

Several hedge funds have recently made changes to their positions in BDSX. Allworth Financial LP purchased a new stake in shares of Biodesix in the 2nd quarter valued at about $112,000. Walleye Capital LLC purchased a new position in Biodesix during the 1st quarter worth approximately $157,000. Thompson Davis & CO. Inc. purchased a new position in Biodesix during the 1st quarter worth approximately $170,000. Renaissance Technologies LLC acquired a new position in Biodesix during the first quarter worth approximately $173,000. Finally, Cetera Investment Advisers increased its position in Biodesix by 20.0% during the first quarter. Cetera Investment Advisers now owns 12,000 shares of the company’s stock worth $174,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Biodesix Company Profile

Biodesix, Inc is a data-driven diagnostic solutions company focused on improving the diagnosis and treatment of cancer, with an emphasis on lung disease. The company combines blood-based testing, data science and artificial intelligence to help physicians assess cancer risk, guide treatment decisions and monitor patients.

Biodesix’s portfolio includes diagnostic tests for lung nodules and lung cancer, including the Nodify Lung Nodule Risk Assessment suite and blood-based assays such as GeneStrat and VeriStrat.