Biodesix (NASDAQ:BDSX) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Biodesix (NASDAQ:BDSX) in a research note released on Monday, MarketBeat.com reports. The firm issued a sector outperform rating and a $3.00 target price on the stock.

Separately, Craig Hallum started coverage on Biodesix in a report on Friday, July 26th. They set a buy rating and a $3.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and an average price target of $3.06.

Biodesix Price Performance

Shares of NASDAQ BDSX opened at $1.74 on Monday. 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 company has a market cap of $199.55 million, a PE ratio of -3.16 and a beta of 1.23. The stock has a fifty day moving average price of $1.74 and a 200 day moving average price of $1.55. Biodesix has a 1-year low of $1.15 and a 1-year high of $2.21.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, topping 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 net margin of 73.08% and a negative return on equity of 505.95%. During the same period in the previous year, the firm earned ($0.17) EPS. Sell-side analysts forecast that Biodesix will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Biodesix

Several hedge funds have recently modified their holdings of the stock. Opaleye Management Inc. raised its holdings in Biodesix by 9.0% during the 4th quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock worth $914,000 after buying an additional 40,927 shares during the period. Essex Investment Management Co. LLC lifted its position 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 acquiring an additional 12,669 shares in the last quarter. AIGH Capital Management LLC boosted 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 worth $8,843,000 after purchasing an additional 2,458,727 shares during the period. Oracle Investment Management Inc. grew its position in Biodesix by 44.8% during 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 in the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in shares of Biodesix in the second quarter valued at $3,326,000. 20.96% of the stock is owned by hedge funds and other 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.