Biodesix (NASDAQ:BDSX) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Biodesix (NASDAQ:BDSX) posted its earnings results on Friday. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01, RTT News reports. The company had revenue of $18.15 million during the quarter, compared to analyst estimates of $18.45 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 prior year, the business earned ($0.12) earnings per share. Biodesix updated its FY 2024 guidance to EPS.

Biodesix Stock Down 23.5 %

Shares of BDSX stock traded down $0.40 during trading hours on Friday, reaching $1.30. 556,069 shares of the company’s stock were exchanged, compared to its average volume of 149,748. The stock’s fifty day moving average price is $1.72 and its two-hundred day moving average price is $1.60. The stock has a market cap of $188.73 million, a PE ratio of -2.83 and a beta of 1.22. Biodesix has a 1 year low of $1.15 and a 1 year high of $2.21. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.99.

Analyst Ratings Changes

A number of brokerages recently weighed in on BDSX. Craig Hallum initiated coverage on Biodesix in a research note on Friday, July 26th. They set a “buy” rating and a $3.00 price objective for the company. Scotiabank started coverage on shares of Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Biodesix has a consensus rating of “Buy” and an average target price of $3.06.

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.