Biodesix (NASDAQ:BDSX) Stock Price Target Cut by HC Wainwright

Key Points

• HC Wainwright cut Biodesix’s price target from $38 to $34 but kept its Buy rating; the new target implies about 299% upside from the stock’s current price.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average target of $34.20, with ratings ranging from Strong Buy to Sell.
• Biodesix matched quarterly EPS estimates at a loss of $0.75 per share, while revenue of $24.04 million came in below analysts’ $27.49 million estimate.

Biodesix (NASDAQ:BDSX - Get Free Report) had its price target dropped by HC Wainwright from $38.00 to $34.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 298.59% from the stock's current price.

A number of other research analysts also recently commented on the stock. TD Cowen reaffirmed a "buy" rating and issued a $40.00 target price (up from $30.00) on shares of Biodesix in a research report on Tuesday, October 13th. Weiss Ratings raised shares of Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 8th. Finally, Canaccord Genuity Group upped their price objective on shares of Biodesix from $27.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.20.

Biodesix Stock Performance

NASDAQ BDSX opened at $8.53 on Monday. The company has a debt-to-equity ratio of 5.12, a current ratio of 2.85 and a quick ratio of 2.85. The stock has a market capitalization of $90.00 million, a P/E ratio of -3.09 and a beta of 0.65. The firm's 50-day moving average is $25.53 and its two-hundred day moving average is $18.90. Biodesix has a 12 month low of $5.26 and a 12 month high of $31.97.

Biodesix (NASDAQ:BDSX - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.75) EPS for the quarter, meeting the consensus estimate of ($0.75). The company had revenue of $24.04 million for the quarter, compared to analyst estimates of $27.49 million. Biodesix had a negative net margin of 25.74% and a negative return on equity of 513.78%. On average, sell-side analysts anticipate that Biodesix will post -2.68 earnings per share for the current year.

Insider Activity

In related news, Director Jack Schuler purchased 15,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the acquisition, the director directly owned 555,810 shares of the company's stock, valued at $13,600,670.70. This trade represents a 2.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biodesix

A number of hedge funds and other institutional investors have recently modified their holdings of BDSX. Allworth Financial LP acquired a new position in shares of Biodesix in the second quarter worth $112,000. Walleye Capital LLC acquired a new position in shares of Biodesix in the 1st quarter valued at $157,000. Renaissance Technologies LLC purchased a new stake in shares of Biodesix during the 1st quarter valued at $173,000. Cetera Investment Advisers increased its holdings in shares of Biodesix by 20.0% during the 1st quarter. Cetera Investment Advisers now owns 12,000 shares of the company's stock worth $174,000 after buying an additional 2,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Biodesix during the 2nd quarter worth $354,000. 20.96% of the stock is currently owned by institutional investors and hedge funds.

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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