Biodesix, Inc. (NASDAQ:BDSX) Receives $2.95 Average Price Target from Brokerages

Shares of Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) have earned an average rating of "Buy" from the six analysts that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have covered the stock in the last year is $2.86.

A number of brokerages have recently weighed in on BDSX. Canaccord Genuity Group reduced their price objective on shares of Biodesix from $3.50 to $2.50 and set a "buy" rating for the company in a research note on Tuesday. William Blair reiterated an "outperform" rating on shares of Biodesix in a report on Tuesday, March 4th.

Insider Transactions at Biodesix

In related news, CEO Scott Hutton sold 83,660 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $0.92, for a total transaction of $76,967.20. Following the sale, the chief executive officer now directly owns 701,947 shares in the company, valued at approximately $645,791.24. This represents a 10.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 128,702 shares of company stock valued at $118,406 over the last ninety days. 69.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biodesix

Several hedge funds have recently added to or reduced their stakes in BDSX. AIGH Capital Management LLC increased its stake in shares of Biodesix by 8.8% during the fourth quarter. AIGH Capital Management LLC now owns 6,179,812 shares of the company's stock valued at $9,455,000 after buying an additional 500,000 shares during the period. Samjo Management LLC purchased a new stake in Biodesix during the 4th quarter valued at $3,790,000. Perkins Capital Management Inc. lifted its stake in shares of Biodesix by 46.3% in the 4th quarter. Perkins Capital Management Inc. now owns 1,060,211 shares of the company's stock worth $1,622,000 after purchasing an additional 335,429 shares during the period. Geode Capital Management LLC grew its holdings in Biodesix by 50.7% during the third quarter. Geode Capital Management LLC now owns 804,576 shares of the company's stock valued at $1,433,000 after purchasing an additional 270,724 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Biodesix during the 3rd quarter valued at $10,849,000. Institutional investors own 20.96% of the company's stock.

Biodesix Stock Down 1.6 %

Shares of Biodesix stock traded down $0.01 on Tuesday, hitting $0.53. 82,479 shares of the company's stock traded hands, compared to its average volume of 308,751. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.30. The stock has a market cap of $77.03 million, a P/E ratio of -1.35 and a beta of 1.17. Biodesix has a 52-week low of $0.45 and a 52-week high of $2.04. The firm's 50-day moving average is $0.67 and its 200 day moving average is $1.08.

Biodesix (NASDAQ:BDSX - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. The company had revenue of $20.43 million for the quarter, compared to the consensus estimate of $19.92 million. Equities analysts anticipate that Biodesix will post -0.35 earnings per share for the current year.

About Biodesix

Biodesix, Inc operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules.