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

Key Points

• Analysts hold a “Moderate Buy” consensus on Biodesix, with three buy ratings, one strong buy, and one sell. The average 12-month price target is $31.33, with recent targets ranging from $27 to $35.
• Biodesix reported quarterly revenue of $26.86 million and an adjusted loss of $0.71 per share, beating analyst estimates for both revenue and EPS, though the company remains unprofitable.
• Insider and institutional activity has been positive: insiders purchased 42,600 shares over the past three months, while institutional investors and hedge funds own approximately 21% of the stock.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.3333.

BDSX has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $27.00 target price (up from $26.00) on shares of Biodesix in a research note on Thursday, August 6th. Canaccord Genuity Group boosted their price objective on shares of Biodesix from $27.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Biodesix from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 21st. Finally, Roth Capital initiated coverage on shares of Biodesix in a research note on Wednesday, June 24th. They issued a "buy" rating and a $32.00 target price for the company.

Biodesix Stock Performance

Shares of NASDAQ BDSX opened at $26.18 on Monday. Biodesix has a 12 month low of $5.26 and a 12 month high of $31.31. The company has a market cap of $276.20 million, a P/E ratio of -8.26 and a beta of 0.60. The business's 50 day moving average is $23.28 and its two-hundred day moving average is $17.89. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 5.12.

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

Insider Buying and Selling

In other Biodesix news, Director Jack Schuler purchased 15,000 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were purchased at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the purchase, the director directly owned 555,810 shares of the company's stock, valued at approximately $13,600,670.70. This represents a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 42,600 shares of company stock valued at $1,033,062 over the last three months. 23.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biodesix

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

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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