Biodesix (NASDAQ:BDSX) Issues Earnings Results, Beats Expectations By $0.01 EPS

Biodesix (NASDAQ:BDSX) posted its quarterly 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 business had revenue of $18.15 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned ($0.12) EPS. Biodesix updated its FY 2024 guidance to EPS.

Biodesix Stock Performance

BDSX stock traded down $0.40 during mid-day trading on Friday, hitting $1.30. The company had a trading volume of 556,069 shares, compared to its average volume of 149,748. The firm has a market cap of $188.73 million, a PE ratio of -2.83 and a beta of 1.22. 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 has a 12 month low of $1.15 and a 12 month high of $2.21. The stock’s fifty day moving average price is $1.72 and its two-hundred day moving average price is $1.60.

Analysts Set New Price Targets

BDSX has been the subject of a number of analyst reports. Craig Hallum began coverage on Biodesix in a research report on Friday, July 26th. They issued a “buy” rating and a $3.00 price target for the company. Scotiabank began 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 on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3.06.

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.