Biodesix, Inc. (NASDAQ:BDSX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Biodesix has a “Moderate Buy” consensus rating from five analysts, with three buys, one strong buy and one sell. The average 12-month price target is $31.33, versus a recent share price of $24.22.
• Director Jack W. Schuler purchased 13,900 shares for approximately $337,000, increasing his holdings by 2.71%. Insiders own 23.20% of the company, while institutional investors hold 20.96%.
• Biodesix exceeded quarterly expectations, reporting revenue of $26.86 million and an adjusted loss of $0.71 per share versus the consensus loss estimate of $0.90. Shares have risen significantly, trading near their 52-week high of $25.52.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $31.3333.

A number of equities research analysts have recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $27.00 target price (up from $26.00) on shares of Biodesix in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, June 12th. Canaccord Genuity Group raised their price target on shares of Biodesix from $27.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Roth Capital began coverage on shares of Biodesix in a research note on Wednesday, June 24th. They issued a "buy" rating and a $32.00 price objective for the company.

Insider Activity

In other Biodesix news, Director Jack W. Schuler bought 13,900 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $24.25 per share, with a total value of $337,075.00. Following the completion of the acquisition, the director owned 527,110 shares of the company's stock, valued at $12,782,417.50. This trade represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 23.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biodesix

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its stake in Biodesix by 99.4% during the 2nd 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 period. Millennium Management LLC bought a new stake in shares of Biodesix during the 3rd quarter valued at $113,000. Geode Capital Management LLC lifted its position in shares of Biodesix by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 42,453 shares of the company's stock valued at $289,000 after acquiring an additional 2,235 shares during the period. Monashee Investment Management LLC lifted its position in shares of Biodesix by 12.3% during the 4th quarter. Monashee Investment Management LLC now owns 112,344 shares of the company's stock valued at $764,000 after acquiring an additional 12,348 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of Biodesix during the 4th quarter worth $105,000. Institutional investors and hedge funds own 20.96% of the company's stock.

Biodesix Price Performance

Shares of NASDAQ BDSX opened at $24.22 on Thursday. The firm has a market cap of $255.52 million, a P/E ratio of -7.64 and a beta of 0.56. The business's 50 day moving average is $20.19 and its 200-day moving average is $16.05. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 5.12. Biodesix has a 1-year low of $5.26 and a 1-year high of $25.52.

Biodesix (NASDAQ:BDSX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.19. Biodesix had a negative return on equity of 788.19% and a negative net margin of 26.97%.The business had revenue of $26.86 million during the quarter, compared to the consensus estimate of $26.03 million. Equities research analysts predict that Biodesix will post -2.68 earnings per share for the current year.

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.

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