Biodesix, Inc. (NASDAQ:BDSX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Biodesix, Inc. (NASDAQ:BDSX) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $31.3333.

BDSX has been the topic of a number of research analyst reports. Roth Capital started coverage on Biodesix in a research report on Wednesday, June 24th. They issued a “buy” rating and a $32.00 target price on the stock. Weiss Ratings upgraded Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Canaccord Genuity Group lifted their price objective on Biodesix from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective (up from $26.00) on shares of Biodesix in a report on Thursday, August 6th.

Biodesix Price Performance

BDSX stock opened at $26.97 on Monday. The company has a debt-to-equity ratio of 5.12, a quick ratio of 2.85 and a current ratio of 2.85. The company’s fifty day moving average price is $23.64 and its 200-day moving average price is $18.37. Biodesix has a one year low of $5.26 and a one year high of $31.31. The company has a market capitalization of $284.53 million, a PE ratio of -8.51 and a beta of 0.60.

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

Insiders Place Their Bets

In other Biodesix news, Director Jack Schuler purchased 15,000 shares of Biodesix stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the transaction, the director 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 42,600 shares of company stock valued at $1,033,062 in the last quarter. Insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On Biodesix

A number of institutional investors and hedge funds have recently made changes to their positions in BDSX. AIGH Capital Management LLC purchased a new stake in shares of Biodesix during the 1st quarter valued at about $10,996,000. XTX Topco Ltd grew its position in Biodesix by 99.4% in 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 in the last quarter. Walleye Capital LLC purchased a new position in Biodesix in the second quarter worth about $1,679,000. Stempoint Capital LP bought a new stake in Biodesix during the first quarter worth approximately $1,015,000. Finally, GSA Capital Partners LLP bought a new stake in Biodesix during the second quarter worth approximately $1,060,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

Biodesix Company Profile

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.