Biodesix, Inc. (NASDAQ:BDSX) Stock Has Average Target Price of $35.00

Key Points

• Analysts rate Biodesix “Moderate Buy,” with three buy ratings, one strong-buy rating and one sell rating. The average 12-month price target is $35, including recent targets of $38 from HC Wainwright and $35 from Canaccord Genuity.
• Insiders have been buying shares, including director Jack Schuler’s purchase of 15,000 shares, while insiders own 23.2% of the company. Institutional investors own an additional 20.96% stake.
• Biodesix shares opened at $27.33, near their 52-week high of $31.97, after the company beat quarterly EPS and revenue estimates. However, the company remains unprofitable, reporting a negative net margin and analysts expecting a full-year loss.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.00.

Several brokerages recently issued reports on BDSX. HC Wainwright reissued a "buy" rating and issued a $38.00 price target (up from $27.00) on shares of Biodesix in a report on Friday, September 25th. Roth Capital assumed coverage on Biodesix in a research note on Wednesday, June 24th. They set a "buy" rating and a $32.00 price objective for the company. Canaccord Genuity Group increased 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. Finally, Weiss Ratings upgraded Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 8th.

Insider Buying and Selling at Biodesix

In other news, Director Jack Schuler acquired 15,000 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $24.47 per share, with a total value of $367,050.00. Following the acquisition, the director directly owned 555,810 shares in the company, valued at approximately $13,600,670.70. The trade was 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. Over the last 90 days, insiders have bought 42,600 shares of company stock valued at $1,033,062. 23.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in shares of Biodesix in the second quarter valued at approximately $112,000. Walleye Capital LLC acquired a new position in shares of Biodesix during the first quarter worth approximately $157,000. Thompson Davis & CO. Inc. acquired a new position in shares of Biodesix during the first quarter worth approximately $170,000. Renaissance Technologies LLC bought a new position in Biodesix in the 1st quarter worth approximately $173,000. Finally, Cetera Investment Advisers grew its holdings in Biodesix by 20.0% in the 1st quarter. Cetera Investment Advisers now owns 12,000 shares of the company's stock worth $174,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 20.96% of the company's stock.

Biodesix Price Performance

Shares of NASDAQ:BDSX opened at $27.33 on Friday. The company has a market cap of $288.33 million, a PE ratio of -8.62 and a beta of 0.56. Biodesix has a fifty-two week low of $5.26 and a fifty-two week high of $31.97. The firm has a 50-day simple moving average of $25.81 and a 200 day simple moving average of $19.58. 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 issued its earnings results on Wednesday, August 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.90) by $0.19. The firm had revenue of $26.86 million for the quarter, compared to analysts' expectations of $26.03 million. Biodesix had a negative net margin of 26.97% and a negative return on equity of 788.19%. On average, sell-side analysts anticipate that Biodesix will post -2.68 EPS for the current year.

Biodesix Company Profile

Biodesix, Inc NASDAQ: BDSX is a data-driven diagnostic solutions company focused on improving the detection, diagnosis and treatment of lung disease, particularly lung cancer. The company combines proprietary blood-based tests, clinical data and artificial intelligence to help physicians make more informed decisions throughout the patient-care process.

Biodesix's product portfolio includes tests designed to assess the risk that a lung nodule is malignant, support treatment selection and monitor disease.

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