Biodesix (NASDAQ:BDSX) Price Target Cut to $30.00 by Analysts at Lake Street Capital

Key Points

• Lake Street Capital cut its Biodesix price target from $40 to $30 but maintained a Buy rating; the new target implies 251.7% upside from the stock’s current price.
• Analyst sentiment remains broadly positive: Biodesix has a “Moderate Buy” consensus rating and an average price target of $34.20, based on ratings that include five Buys, one Strong Buy, and one Sell.
• In its latest quarter, Biodesix met the consensus loss per share of $0.75, while revenue of $24.04 million fell short of analysts’ $27.49 million estimate.

Biodesix (NASDAQ:BDSX - Get Free Report) had its target price lowered by investment analysts at Lake Street Capital from $40.00 to $30.00 in a report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Lake Street Capital's target price points to a potential upside of 251.70% from the stock's current price.

Several other brokerages have also recently issued reports on BDSX. Canaccord Genuity Group upped their target price on shares of Biodesix from $27.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, August 10th. TD Cowen reaffirmed a "buy" rating and issued a $40.00 price target (up from $30.00) on shares of Biodesix in a report on Tuesday, October 13th. Weiss Ratings upgraded Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 8th. Finally, HC Wainwright cut their target price on Biodesix from $38.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Biodesix currently has an average rating of "Moderate Buy" and an average target price of $34.20.

Biodesix Price Performance

NASDAQ BDSX opened at $8.53 on Friday. 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 has a market capitalization of $90.00 million, a P/E ratio of -3.09 and a beta of 0.65. Biodesix has a one year low of $5.26 and a one year high of $31.97. The stock has a 50 day moving average price of $25.53 and a 200-day moving average price of $18.90.

Biodesix (NASDAQ:BDSX - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate of ($0.75). The company had revenue of $24.04 million for the quarter, compared to analysts' expectations of $27.49 million. Biodesix had a negative net margin of 25.74% and a negative return on equity of 513.78%. As a group, equities analysts predict that Biodesix will post -2.68 EPS for the current fiscal year.

Insider Transactions at Biodesix

In other Biodesix news, Director Jack Schuler bought 15,000 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $24.47 per share, with a total value of $367,050.00. Following 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of Biodesix during the 2nd quarter worth approximately $112,000. Walleye Capital LLC purchased a new stake in Biodesix during the 1st quarter valued at about $157,000. Renaissance Technologies LLC acquired a new position in Biodesix in the 1st quarter worth approximately $173,000. Cetera Investment Advisers increased its stake in shares of Biodesix by 20.0% in the first quarter. Cetera Investment Advisers now owns 12,000 shares of the company's stock worth $174,000 after acquiring an additional 2,000 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Biodesix during the 2nd quarter valued at about $354,000. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

Biodesix Company Profile

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.

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