Biodesix (NASDAQ:BDSX) Stock Rating Upgraded by Roth Mkm

Biodesix (NASDAQ:BDSX) was upgraded by equities research analysts at Roth Mkm to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

BDSX has been the topic of several other reports. Weiss Ratings upgraded shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. William Blair raised Biodesix from a “market perform” rating to an “outperform” rating in a research report on Friday, February 27th. Canaccord Genuity Group raised their price objective on Biodesix from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, HC Wainwright initiated coverage on Biodesix in a research note on Monday, June 15th. They set a “buy” rating and a $26.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Biodesix Trading Up 7.3%

Shares of BDSX opened at $20.04 on Wednesday. The business’s 50-day moving average price is $14.66 and its 200 day moving average price is $12.58. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 5.09. The stock has a market capitalization of $207.61 million, a P/E ratio of -4.94 and a beta of 0.59. Biodesix has a 1-year low of $5.01 and a 1-year high of $22.22.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.32. The company had revenue of $25.55 million during the quarter, compared to analyst estimates of $23.12 million. Biodesix had a negative net margin of 33.26% and a negative return on equity of 2,101.40%. Analysts expect that Biodesix will post -2.93 earnings per share for the current year.

Institutional Investors Weigh In On Biodesix

Several institutional investors and hedge funds have recently modified their holdings of BDSX. XTX Topco Ltd increased 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 buying an additional 102,494 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Biodesix during the 4th quarter worth about $68,000. DRW Securities LLC acquired a new position in shares of Biodesix during the 4th quarter valued at about $105,000. Oracle Investment Management Inc. bought a new position in shares of Biodesix in the 3rd quarter valued at approximately $113,000. Finally, Millennium Management LLC bought a new position in shares of Biodesix in the 3rd quarter valued at approximately $113,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

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.