Biodesix, Inc. (NASDAQ:BDSX) Receives Average Rating of “Moderate Buy” from Brokerages

Biodesix, Inc. (NASDAQ:BDSX) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $32.50.

BDSX has been the subject of several research reports. Wall Street Zen upgraded Biodesix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd.

Biodesix Price Performance

Shares of BDSX opened at $8.92 on Friday. The firm has a market cap of $71.00 million, a PE ratio of -1.60 and a beta of 0.60. Biodesix has a 52-week low of $3.44 and a 52-week high of $23.56. The business’s 50 day moving average price is $7.43 and its two-hundred day moving average price is $7.55. The company has a debt-to-equity ratio of 41.11, a quick ratio of 1.84 and a current ratio of 1.84.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings data on Monday, November 3rd. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.60) by $0.44. The company had revenue of $21.77 million during the quarter, compared to analyst estimates of $20.98 million. Biodesix had a negative net margin of 49.31% and a negative return on equity of 504.41%. On average, equities analysts anticipate that Biodesix will post -0.35 EPS for the current year.

Institutional Trading of Biodesix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd lifted 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 valued at $58,000 after buying an additional 102,494 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Biodesix in the 3rd quarter worth about $113,000. Oracle Investment Management Inc. bought a new position in Biodesix in the 3rd quarter valued at about $113,000. Finally, Aberdeen Group plc acquired a new position in Biodesix during the 4th quarter valued at about $1,784,000. Institutional investors own 20.96% of the company’s stock.

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.