Zacks: Brokerages Anticipate Biodesix, Inc. (NASDAQ:BDSX) Will Announce Quarterly Sales of $8.60 Million

Analysts expect that Biodesix, Inc. (NASDAQ:BDSXGet Rating) will post $8.60 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Biodesix’s earnings, with the lowest sales estimate coming in at $8.11 million and the highest estimate coming in at $8.90 million. Biodesix reported sales of $11.89 million in the same quarter last year, which would suggest a negative year over year growth rate of 27.7%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Biodesix will report full year sales of $38.31 million for the current financial year, with estimates ranging from $38.00 million to $38.60 million. For the next year, analysts forecast that the business will post sales of $51.27 million, with estimates ranging from $50.50 million to $52.02 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Biodesix.

Biodesix (NASDAQ:BDSXGet Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.12). During the same quarter last year, the company earned ($0.23) EPS.

Several equities analysts recently issued reports on BDSX shares. Cowen assumed coverage on shares of Biodesix in a report on Wednesday, April 20th. They issued an “outperform” rating on the stock. BTIG Research restated a “buy” rating and issued a $10.00 target price (down previously from $17.00) on shares of Biodesix in a report on Thursday, April 14th. Canaccord Genuity Group reduced their price objective on shares of Biodesix from $10.00 to $7.00 in a research report on Thursday, May 12th. Zacks Investment Research downgraded shares of Biodesix from a “buy” rating to a “hold” rating in a research report on Thursday, March 17th. Finally, Cowen started coverage on shares of Biodesix in a research report on Wednesday, April 20th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Biodesix has an average rating of “Buy” and a consensus price target of $10.75.

Shares of Biodesix stock opened at $1.61 on Friday. Biodesix has a twelve month low of $1.31 and a twelve month high of $16.40. The stock has a market cap of $64.06 million, a price-to-earnings ratio of -0.89 and a beta of 1.50. The company’s fifty day moving average is $1.79 and its 200 day moving average is $3.70.

In other news, Director Matthew Strobeck bought 558,659 shares of the stock in a transaction on Thursday, April 7th. The shares were acquired at an average cost of $1.79 per share, for a total transaction of $999,999.61. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman John Patience bought 279,329 shares of the stock in a transaction on Thursday, April 7th. The stock was purchased at an average price of $1.79 per share, for a total transaction of $499,998.91. Following the completion of the purchase, the chairman now directly owns 337,926 shares in the company, valued at $604,887.54. The disclosure for this purchase can be found here. Insiders have sold a total of 20,146 shares of company stock worth $36,867 over the last 90 days. 49.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of BDSX. Morgan Stanley raised its position in shares of Biodesix by 363.2% during the 2nd quarter. Morgan Stanley now owns 43,604 shares of the company’s stock valued at $575,000 after buying an additional 34,190 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Biodesix by 20.1% during the 2nd quarter. Citadel Advisors LLC now owns 54,118 shares of the company’s stock valued at $715,000 after buying an additional 9,069 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Biodesix by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 151,023 shares of the company’s stock valued at $1,241,000 after buying an additional 5,064 shares in the last quarter. Trexquant Investment LP raised its position in shares of Biodesix by 58.8% during the 3rd quarter. Trexquant Investment LP now owns 18,857 shares of the company’s stock valued at $155,000 after buying an additional 6,983 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Biodesix during the 3rd quarter valued at $321,000. Hedge funds and other institutional investors own 85.26% of the company’s stock.

Biodesix Company Profile (Get Rating)

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.

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Earnings History and Estimates for Biodesix (NASDAQ:BDSX)

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