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

Key Points

• Biodesix received a consensus analyst rating of “Moderate Buy” from five analysts, with an average 12-month price target of $28.33. Among the ratings, one analyst called it a sell, three said buy, and one gave a strong buy.
• Several firms recently raised or initiated coverage on the stock, including Canaccord Genuity lifting its target to $27 and Roth Capital starting coverage with a $32 target. HC Wainwright also began coverage with a $26 target, while Weiss Ratings slightly improved its bearish view.
• The company’s latest earnings beat expectations, with EPS of -$0.81 versus the expected -$1.13 and revenue of $25.55 million above estimates. Biodesix shares were up about 1.2% and opened at $20.19, below the analyst average price target.

Shares of Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $28.3333.

Several brokerages have recently commented on BDSX. Canaccord Genuity Group increased their target price on shares of Biodesix from $22.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Roth Capital began coverage on shares of Biodesix in a report on Wednesday, June 24th. They set a "buy" rating and a $32.00 price target on the stock. Weiss Ratings raised shares of Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, June 12th. Finally, HC Wainwright started coverage on Biodesix in a report on Monday, June 15th. They set a "buy" rating and a $26.00 price target on the stock.

Biodesix Stock Up 1.2%

Shares of NASDAQ:BDSX opened at $20.19 on Friday. The business's 50 day moving average is $17.63 and its 200 day moving average is $14.15. Biodesix has a 12-month low of $5.26 and a 12-month high of $24.92. The stock has a market cap of $209.09 million, a price-to-earnings ratio of -4.97 and a beta of 0.53. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 5.09.

Biodesix (NASDAQ:BDSX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.81) EPS for the quarter, beating analysts' consensus estimates of ($1.13) by $0.32. Biodesix had a negative return on equity of 2,101.40% and a negative net margin of 33.26%.The business had revenue of $25.55 million during the quarter, compared to analyst estimates of $23.12 million. On average, sell-side analysts forecast that Biodesix will post -2.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biodesix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd raised 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 during the period. Cetera Investment Advisers bought a new position in Biodesix during the fourth quarter valued at $68,000. DRW Securities LLC purchased a new stake in Biodesix in the fourth quarter worth $105,000. Millennium Management LLC bought a new stake in shares of Biodesix in the third quarter valued at $113,000. Finally, State Street Corp raised its stake in shares of Biodesix by 15.6% in the fourth quarter. State Street Corp now owns 17,802 shares of the company's stock valued at $121,000 after buying an additional 2,400 shares during the period. 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.

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