Biodesix (NASDAQ:BDSX) Receives New Coverage from Analysts at Craig Hallum

Equities researchers at Craig Hallum began coverage on shares of Biodesix (NASDAQ:BDSX) in a research note issued to investors on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Craig Hallum’s target price suggests a potential upside of 80.72% from the company’s previous close.

A number of other research firms also recently weighed in on BDSX. TD Cowen assumed coverage on shares of Biodesix in a research note on Monday, May 13th. They set a “buy” rating and a $2.80 price target on the stock. Lake Street Capital started coverage on shares of Biodesix in a report on Friday, May 3rd. They set a “buy” rating and a $3.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $3.08.

Biodesix Stock Performance

Shares of BDSX opened at $1.66 on Friday. The company has a debt-to-equity ratio of 7.69, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $190.39 million, a price-to-earnings ratio of -3.02 and a beta of 1.21. The company’s 50 day simple moving average is $1.56 and its 200 day simple moving average is $1.57. Biodesix has a 1 year low of $1.03 and a 1 year high of $2.21.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $14.82 million for the quarter, compared to the consensus estimate of $14.00 million. Biodesix had a negative net margin of 85.80% and a negative return on equity of 29,379.44%. On average, sell-side analysts predict that Biodesix will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Opaleye Management Inc. lifted its position in Biodesix by 9.0% in the 4th quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock valued at $914,000 after purchasing an additional 40,927 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in Biodesix by 1.4% during the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after buying an additional 12,669 shares during the period. Finally, Oracle Investment Management Inc. increased its stake in Biodesix by 44.8% during the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after buying an additional 18,863 shares during the period. 20.96% of the stock is currently owned by institutional investors.

About Biodesix

Biodesix, Inc operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules.