Biodesix, Inc. (NASDAQ:BDSX) Receives $3.08 Consensus Target Price from Analysts

Biodesix, Inc. (NASDAQ:BDSX) has been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $3.06.

A number of research firms have weighed in on BDSX. Scotiabank started coverage on shares of Biodesix in a research report on Monday. They set a “sector outperform” rating and a $3.00 target price for the company. Craig Hallum started coverage on shares of Biodesix in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price objective for the company.

Institutional Investors Weigh In On Biodesix

A number of institutional investors have recently added to or reduced their stakes in the business. CVI Holdings LLC bought a new stake in shares of Biodesix in the 2nd quarter valued at $59,000. Oracle Investment Management Inc. boosted its stake in shares of 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 purchasing an additional 18,863 shares during the last quarter. Opaleye Management Inc. boosted its stake in shares of 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 purchasing an additional 40,927 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of 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 purchasing an additional 12,669 shares during the last quarter. Finally, Farallon Capital Management LLC bought a new stake in shares of Biodesix in the 2nd quarter valued at $2,874,000. 20.96% of the stock is owned by institutional investors.

Biodesix Trading Up 1.1 %

Biodesix stock opened at $1.79 on Friday. 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 has a market cap of $205.29 million, a price-to-earnings ratio of -3.25 and a beta of 1.23. Biodesix has a 1 year low of $1.15 and a 1 year high of $2.21. The firm’s 50 day moving average price is $1.74 and its two-hundred day moving average price is $1.55.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $17.93 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted ($0.17) EPS. On average, research analysts predict that Biodesix will post -0.36 EPS for the current fiscal year.

About Biodesix

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.