Brokerages Set Biodesix, Inc. (NASDAQ:BDSX) Price Target at $3.08

Shares of Biodesix, Inc. (NASDAQ:BDSX) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $3.06.

Several equities research analysts have recently issued reports on the stock. Craig Hallum initiated coverage on shares of Biodesix in a report on Friday, July 26th. They issued a “buy” rating and a $3.00 target price for the company. Scotiabank began coverage on shares of Biodesix in a research report on Monday. They issued a “sector outperform” rating and a $3.00 price objective on the stock.

Biodesix Price Performance

NASDAQ:BDSX opened at $1.74 on Friday. The firm has a market capitalization of $199.55 million, a price-to-earnings ratio of -3.16 and a beta of 1.23. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.28 and a quick ratio of 3.28. The business has a 50 day simple moving average of $1.74 and a 200-day simple moving average of $1.55. Biodesix has a 1 year low of $1.15 and a 1 year high of $2.21.

Biodesix (NASDAQ:BDSX) last released its quarterly 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 company had revenue of $17.93 million for the quarter, compared to analyst estimates 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 prior year, the firm posted ($0.17) EPS. Equities analysts forecast that Biodesix will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CVI Holdings LLC bought a new stake in shares of Biodesix during the second quarter valued at approximately $59,000. Oracle Investment Management Inc. lifted its position 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 worth $112,000 after purchasing an additional 18,863 shares during the period. Opaleye Management Inc. boosted its stake in shares of Biodesix by 7.7% during the first quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock valued at $765,000 after purchasing an additional 38,157 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in Biodesix by 1.4% during the first 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 period. Finally, Farallon Capital Management LLC bought a new position in Biodesix in the second quarter worth approximately $2,874,000. 20.96% of the stock is currently owned by institutional investors.

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.