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

Shares of Biodesix, Inc. (NASDAQ:BDSX) have received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $35.00.

Several equities analysts have recently commented on BDSX shares. Weiss Ratings upgraded shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price (up from $27.00) on shares of Biodesix in a report on Friday, September 25th. Canaccord Genuity Group boosted their target price on Biodesix from $27.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Roth Capital began coverage on Biodesix in a research note on Wednesday, June 24th. They set a “buy” rating and a $32.00 price target on the stock.

Insider Buying and Selling at Biodesix

In other news, Director Jack Schuler acquired 15,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the director owned 555,810 shares of the company’s stock, valued at $13,600,670.70. This represents a 2.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 42,600 shares of company stock valued at $1,033,062 over the last ninety days. Insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On Biodesix

A number of hedge funds and other institutional investors have recently bought and sold shares of BDSX. Squarepoint Ops LLC acquired a new position in Biodesix in the 2nd quarter valued at about $354,000. Bank of America Corp DE acquired a new stake in shares of Biodesix during the second quarter worth about $603,000. Allworth Financial LP purchased a new position in shares of Biodesix in the second quarter valued at approximately $112,000. BlackRock Inc. purchased a new position in shares of Biodesix in the second quarter valued at approximately $970,000. Finally, AIGH Capital Management LLC acquired a new position in shares of Biodesix in the second quarter valued at approximately $15,296,000. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

Biodesix Price Performance

Shares of NASDAQ:BDSX opened at $27.72 on Friday. The company has a market capitalization of $292.45 million, a price-to-earnings ratio of -8.74 and a beta of 0.56. Biodesix has a 12-month low of $5.26 and a 12-month high of $31.97. The business has a 50-day moving average price of $25.93 and a 200 day moving average price of $19.65. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 5.12.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Wednesday, August 5th. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.19. The company 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%. Sell-side analysts expect that Biodesix will post -2.68 EPS for the current year.

Biodesix Company Profile

Biodesix, Inc is a data-driven diagnostic solutions company focused on improving the diagnosis and treatment of cancer, with an emphasis on lung disease. The company combines blood-based testing, data science and artificial intelligence to help physicians assess cancer risk, guide treatment decisions and monitor patients.

Biodesix’s portfolio includes diagnostic tests for lung nodules and lung cancer, including the Nodify Lung Nodule Risk Assessment suite and blood-based assays such as GeneStrat and VeriStrat.