Biodesix, Inc. (BDSX) – What Are Brokerages Saying About This Stock?

Biodesix, Inc. (NASDAQ:BDSX) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four 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 ratings on the stock in the last year is $36.25.

Several research analysts have recently weighed in on BDSX shares. TD Cowen reaffirmed a “buy” rating and set a $40.00 price objective (up from $30.00) on shares of Biodesix in a research report on Tuesday, October 13th. Canaccord Genuity Group lifted their target price on Biodesix from $27.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 10th. HC Wainwright restated a “buy” rating on shares of Biodesix in a research note on Thursday, October 22nd. Finally, Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th.

Biodesix Trading Down 5.9%

BDSX opened at $23.25 on Tuesday. The stock has a market capitalization of $245.29 million, a P/E ratio of -7.33 and a beta of 0.56. Biodesix has a 12 month low of $5.26 and a 12 month high of $31.97. The firm’s fifty day simple moving average is $26.46 and its 200 day simple moving average is $18.65. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 5.12.

Biodesix (NASDAQ:BDSX) last released its earnings results on Wednesday, August 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $26.03 million. As a group, research analysts anticipate that Biodesix will post -2.68 EPS for the current fiscal year.

Insider Buying and Selling at Biodesix

In other Biodesix news, Director Jack Schuler acquired 15,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the acquisition, the director directly owned 555,810 shares of the company’s stock, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 42,600 shares of company stock worth $1,033,062. 23.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new stake in Biodesix in the 2nd quarter valued at $354,000. Bank of America Corp DE acquired a new position in shares of Biodesix during the 2nd quarter worth about $603,000. Allworth Financial LP acquired a new position in shares of Biodesix during the 2nd quarter worth about $112,000. BlackRock Inc. acquired a new position in shares of Biodesix during the 2nd quarter worth about $970,000. Finally, AIGH Capital Management LLC acquired a new position in shares of Biodesix during the 2nd quarter worth about $15,296,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

About Biodesix

Biodesix, Inc is a data-driven diagnostic solutions company focused on improving the diagnosis and treatment of lung diseases, including lung cancer. The company combines proprietary molecular diagnostic technologies, clinical data, and artificial intelligence to help physicians assess disease risk and make more informed treatment decisions.

Its offerings include blood-based tests designed to help evaluate indeterminate pulmonary nodules, identify patients who may be at higher risk of lung cancer, and support treatment selection and monitoring.