Biodesix (NASDAQ:BDSX) Coverage Initiated at Scotiabank

Analysts at Scotiabank began coverage on shares of Biodesix (NASDAQ:BDSX) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set a “sector outperform” rating and a $3.00 price target on the stock. Scotiabank’s price target would suggest a potential upside of 67.13% from the stock’s previous close.

Separately, Craig Hallum began coverage on shares of Biodesix in a research report on Friday, July 26th. They issued a “buy” rating and a $3.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Biodesix has a consensus rating of “Buy” and an average target price of $3.06.

Biodesix Price Performance

Biodesix stock opened at $1.80 on Monday. The firm has a market cap of $205.86 million, a PE ratio of -3.26 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 firm’s 50 day moving average price is $1.74 and its two-hundred day moving average price is $1.55. Biodesix has a twelve month low of $1.15 and a twelve month high of $2.21.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings data 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 analyst estimates of $16.05 million. Biodesix had a negative net margin of 73.08% and a negative return on equity of 505.95%. During the same quarter in the prior year, the business earned ($0.17) EPS. On average, research analysts predict that Biodesix will post -0.36 EPS for the current fiscal year.

Institutional Trading of Biodesix

Several large investors have recently added to or reduced their stakes in BDSX. Opaleye Management Inc. grew its stake in Biodesix by 9.0% in the 4th quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock valued at $914,000 after buying an additional 40,927 shares during the last quarter. Essex Investment Management Co. LLC grew its stake in Biodesix by 1.4% in the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after buying an additional 12,669 shares during the last quarter. AIGH Capital Management LLC grew its stake in Biodesix by 74.0% in the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after buying an additional 2,458,727 shares during the last quarter. Oracle Investment Management Inc. grew its stake in Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after buying an additional 18,863 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new position in Biodesix in the 2nd quarter valued at $3,326,000. 20.96% of the stock is owned by institutional investors.

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.