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

Shares of Biodesix, Inc. (NASDAQ:BDSX) have earned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $3.06.

BDSX has been the topic of a number of analyst reports. Scotiabank assumed coverage on Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 price target on the stock. Craig Hallum started coverage on Biodesix in a research report on Friday, July 26th. They issued a “buy” rating and a $3.00 price target on the stock.

Institutional Trading of Biodesix

Several institutional investors and hedge funds have recently modified their holdings of the business. CVI Holdings LLC bought a new position in shares of Biodesix in the second quarter worth about $59,000. Oracle Investment Management Inc. lifted 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 purchasing an additional 18,863 shares during the last quarter. Opaleye Management Inc. boosted its position in Biodesix by 7.7% in the first quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock valued at $765,000 after buying an additional 38,157 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Biodesix by 1.4% during the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after buying an additional 12,669 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new position in shares of Biodesix during the second quarter worth $2,874,000. 20.96% of the stock is currently owned by institutional investors.

Biodesix Stock Up 1.1 %

BDSX opened at $1.80 on Friday. The stock has a fifty day moving average of $1.75 and a 200-day moving average of $1.55. The company has a market capitalization of $206.43 million, a P/E ratio of -3.27 and a beta of 1.23. Biodesix has a fifty-two week low of $1.15 and a fifty-two week high of $2.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.28 and a current ratio of 3.28.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Biodesix had a negative net margin of 73.08% and a negative return on equity of 505.95%. The business had revenue of $17.93 million during the quarter, compared to analysts’ expectations of $16.05 million. During the same quarter in the previous year, the company earned ($0.17) EPS. On average, equities analysts expect that Biodesix will post -0.36 EPS for the current year.

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.