Biodesix, Inc. (NASDAQ:BDSX) Receives $1.75 Consensus Target Price from Brokerages

Key Points

• Biodesix, Inc. has received a consensus rating of "Moderate Buy" from five research firms, with four analysts assigning buy ratings and one a hold recommendation.
• As of recent reports, shares of Biodesix are trading at $0.38, with a significant drop of 9.2%, and the company is preparing for a 1-for-20 reverse stock split on September 15th.
• Director Jack W. Schuler significantly increased his stake in Biodesix, acquiring approximately 3.5 million shares at an average price of $0.43, which reflects a 16.68% increase in his ownership.

Shares of Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $35.00.

Several research firms recently weighed in on BDSX. Scotiabank reduced their price target on shares of Biodesix from $60.00 to $40.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 21st. Wall Street Zen upgraded shares of Biodesix to a "sell" rating in a research report on Saturday, September 13th.

Biodesix Stock Performance

BDSX traded up $0.52 during trading on Friday, hitting $6.73. 141,006 shares of the company traded hands, compared to its average volume of 328,317. The firm has a market cap of $49.33 million, a P/E ratio of -1.16 and a beta of 1.00. The stock's fifty day moving average is $7.97 and its 200 day moving average is $8.98. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 41.11. Biodesix has a one year low of $3.44 and a one year high of $37.00.

Biodesix (NASDAQ:BDSX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.60) earnings per share for the quarter, missing the consensus estimate of ($1.40) by ($0.20). The company had revenue of $20.02 million for the quarter, compared to the consensus estimate of $18.47 million. Biodesix had a negative net margin of 53.66% and a negative return on equity of 269.67%. Biodesix has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Biodesix will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Biodesix news, Director Jack W. Schuler bought 174,418 shares of the business's stock in a transaction on Friday, August 29th. The stock was purchased at an average price of $8.60 per share, for a total transaction of $1,499,994.80. Following the completion of the transaction, the director directly owned 1,220,327 shares of the company's stock, valued at $10,494,812.20. This trade represents a 16.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 293 shares of company stock worth $2,461 in the last three months. 30.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biodesix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. bought a new position in Biodesix during the fourth quarter worth about $29,000. XTX Topco Ltd boosted its position in Biodesix by 99.4% during the second quarter. XTX Topco Ltd now owns 205,647 shares of the company's stock worth $58,000 after purchasing an additional 102,494 shares during the period. Cubist Systematic Strategies LLC boosted its position in Biodesix by 385.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company's stock worth $78,000 after purchasing an additional 40,524 shares during the period. Blair William & Co. IL boosted its position in Biodesix by 33.3% during the first quarter. Blair William & Co. IL now owns 124,100 shares of the company's stock worth $78,000 after purchasing an additional 31,000 shares during the period. Finally, Jane Street Group LLC bought a new position in Biodesix during the fourth quarter worth about $119,000. Institutional investors own 20.96% of the company's stock.

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.