Biodesix, Inc. (NASDAQ:BDSX) Receives Average Recommendation of “Buy” from Analysts

Biodesix, Inc. (NASDAQ:BDSX) has been given a consensus recommendation of “Buy” by the six research firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.08.

Separately, Craig Hallum initiated coverage on shares of Biodesix in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 price target on the stock.

Biodesix Stock Performance

NASDAQ BDSX opened at $1.77 on Friday. The company has a market cap of $256.97 million, a P/E ratio of -3.22 and a beta of 1.23. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.28 and a current ratio of 3.28. The business’s 50 day moving average price is $1.73 and its 200-day moving average price is $1.55. Biodesix has a fifty-two week low of $1.15 and a fifty-two week high of $2.21.

Biodesix (NASDAQ:BDSX) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $17.93 million for the quarter, compared to the consensus estimate of $16.05 million. Biodesix had a negative return on equity of 505.95% and a negative net margin of 73.08%. During the same quarter in the previous year, the company posted ($0.17) EPS. Sell-side analysts predict that Biodesix will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On Biodesix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Opaleye Management Inc. increased its stake in shares of Biodesix by 9.0% during the fourth quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock worth $914,000 after buying an additional 40,927 shares during the period. Essex Investment Management Co. LLC increased its stake in Biodesix by 1.4% in the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after purchasing an additional 12,669 shares during the last quarter. AIGH Capital Management LLC increased its stake in Biodesix by 74.0% in the second quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after purchasing an additional 2,458,727 shares during the last quarter. Oracle Investment Management Inc. increased its stake in Biodesix by 44.8% in the fourth quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after purchasing an additional 18,863 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in Biodesix in the second quarter valued at approximately $3,326,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

Biodesix Company Profile

Biodesix, Inc operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules.