Biodesix (NASDAQ:BDSX) Upgraded by Roth Mkm to “Strong-Buy” Rating

Roth Mkm upgraded shares of Biodesix (NASDAQ:BDSX) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. HC Wainwright started coverage on Biodesix in a research note on Monday, June 15th. They issued a “buy” rating and a $26.00 price objective on the stock. William Blair upgraded Biodesix from a “market perform” rating to an “outperform” rating in a research note on Friday, February 27th. Weiss Ratings raised Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Finally, Canaccord Genuity Group increased their price target on Biodesix from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.33.

Biodesix Stock Up 7.3%

Biodesix stock opened at $20.04 on Wednesday. The firm has a market capitalization of $207.61 million, a PE ratio of -4.94 and a beta of 0.59. The company’s 50-day moving average is $14.66 and its 200-day moving average is $12.58. Biodesix has a fifty-two week low of $5.01 and a fifty-two week high of $22.22. The company has a debt-to-equity ratio of 5.09, a current ratio of 2.82 and a quick ratio of 2.82.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Monday, May 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.32. Biodesix had a negative net margin of 33.26% and a negative return on equity of 2,101.40%. The company had revenue of $25.55 million for the quarter, compared to analysts’ expectations of $23.12 million. Sell-side analysts anticipate that Biodesix will post -2.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BDSX. XTX Topco Ltd lifted its position in Biodesix by 99.4% during the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after acquiring an additional 102,494 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Biodesix in the third quarter valued at approximately $113,000. Oracle Investment Management Inc. bought a new position in shares of Biodesix during the third quarter worth approximately $113,000. Aberdeen Group plc bought a new position in shares of Biodesix during the fourth quarter worth approximately $1,784,000. Finally, Geode Capital Management LLC lifted 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 worth $289,000 after purchasing an additional 2,235 shares during the last quarter. 20.96% of the stock is owned by institutional investors.

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.