Biodesix (NASDAQ:BDSX) Raised to Strong-Buy at HC Wainwright

Biodesix (NASDAQ:BDSX) was upgraded by HC Wainwright to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on BDSX. William Blair upgraded shares of Biodesix from a “market perform” rating to an “outperform” rating in a report on Friday, February 27th. Weiss Ratings raised shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Finally, Canaccord Genuity Group raised their target price on Biodesix from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Biodesix has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Biodesix Trading Up 3.6%

Shares of BDSX stock opened at $15.60 on Monday. Biodesix has a fifty-two week low of $5.00 and a fifty-two week high of $20.21. The company has a debt-to-equity ratio of 5.09, a quick ratio of 2.82 and a current ratio of 2.82. The stock has a 50 day simple moving average of $14.09 and a two-hundred day simple moving average of $12.05. The company has a market cap of $161.62 million, a P/E ratio of -3.84 and a beta of 0.59.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.32. The firm had revenue of $25.56 million for the quarter, compared to analysts’ expectations of $23.12 million. Biodesix had a negative return on equity of 2,101.40% and a negative net margin of 33.26%. Research analysts forecast that Biodesix will post -2.99 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BDSX. Aberdeen Group plc acquired a new stake in shares of Biodesix in the 4th quarter worth about $1,784,000. Oracle Investment Management Inc. bought a new stake in Biodesix during the 3rd quarter worth approximately $113,000. Renaissance Technologies LLC purchased a new stake in shares of Biodesix in the first quarter worth approximately $173,000. Sei Investments Co. bought a new position in shares of Biodesix in the first quarter valued at approximately $624,000. Finally, Cetera Investment Advisers boosted its position in shares of Biodesix by 20.0% during the first 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 during the last quarter. 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.