Biodesix, Inc. (BDSX) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Six analysts rate Biodesix a consensus “Moderate Buy,” with four buys, one strong buy, and one sell. The average 12-month price target is $36.25, including targets of $35 from Canaccord Genuity and $40 from TD Cowen.
• Recent results exceeded expectations but the company remains unprofitable: Biodesix reported quarterly revenue of $26.86 million and an adjusted loss of $0.71 per share, beating estimates of $26.03 million and a $0.90 loss. Analysts expect a full-year loss of $2.68 per share.
• Insiders and institutions have been adding shares: A director purchased 15,000 shares, while insiders bought 42,600 shares over the past 90 days. Institutional investors and hedge funds own approximately 20.96% of the stock.

Shares of Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $36.25.

Several research firms have weighed in on BDSX. Weiss Ratings raised Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 8th. Canaccord Genuity Group boosted their target price on Biodesix from $27.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. TD Cowen restated a "buy" rating and set a $40.00 target price (up from $30.00) on shares of Biodesix in a research report on Tuesday, October 13th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Biodesix in a research note on Thursday.

Biodesix Stock Performance

BDSX stock opened at $21.26 on Tuesday. The business's fifty day moving average is $26.51 and its 200-day moving average is $18.31. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 5.12. The company has a market cap of $224.29 million, a P/E ratio of -6.71 and a beta of 0.56. Biodesix has a twelve month low of $5.26 and a twelve month high of $31.97.

Biodesix (NASDAQ:BDSX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $26.03 million. Equities research analysts forecast that Biodesix will post -2.68 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jack Schuler acquired 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the acquisition, the director owned 555,810 shares in the company, valued at $13,600,670.70. This trade represents a 2.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have purchased 42,600 shares of company stock worth $1,033,062. 23.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biodesix

Several hedge funds have recently bought and sold shares of BDSX. Allworth Financial LP bought a new position in shares of Biodesix during 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 bought a new stake in shares of Biodesix in the 1st quarter valued at $173,000. Cetera Investment Advisers increased its position in shares of Biodesix by 20.0% in the 1st quarter. Cetera Investment Advisers now owns 12,000 shares of the company's stock valued at $174,000 after buying an additional 2,000 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Biodesix in the 2nd quarter valued at $354,000. 20.96% of the stock is currently owned by institutional investors and hedge funds.

About Biodesix

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.