Biodesix, Inc. (NASDAQ:BDSX) Receives Consensus Rating of “Buy” from Analysts

Shares of Biodesix, Inc. (NASDAQ:BDSX) have received an average rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $3.06.

BDSX has been the subject of several analyst reports. Craig Hallum assumed coverage on shares of Biodesix in a report on Friday, July 26th. They set a “buy” rating and a $3.00 price target for the company. Scotiabank assumed coverage on shares of Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 price objective for the company.

Biodesix Stock Down 23.5 %

Shares of NASDAQ BDSX opened at $1.30 on Friday. The company has a 50 day simple moving average of $1.72 and a 200 day simple moving average of $1.61. The firm has a market cap of $188.73 million, a PE ratio of -3.33 and a beta of 1.22. Biodesix has a 1 year low of $1.15 and a 1 year high of $2.21. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.28 and a quick ratio of 3.28.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Biodesix had a negative net margin of 73.08% and a negative return on equity of 505.95%. The firm had revenue of $18.15 million during the quarter, compared to analyst estimates of $18.45 million. During the same quarter last year, the business earned ($0.12) EPS. On average, research analysts forecast that Biodesix will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Biodesix

A number of hedge funds have recently bought and sold shares of BDSX. CVI Holdings LLC bought a new stake in shares of Biodesix during the 2nd quarter worth $59,000. Opaleye Management Inc. raised its stake in shares of Biodesix by 7.7% during the 1st quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock worth $765,000 after purchasing an additional 38,157 shares during the period. Perkins Capital Management Inc. raised its stake in shares of Biodesix by 74.7% during the 3rd quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock worth $1,290,000 after purchasing an additional 310,000 shares during the period. Essex Investment Management Co. LLC raised its stake in shares of Biodesix by 1.4% during the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after purchasing an additional 12,669 shares during the period. Finally, Farallon Capital Management LLC bought a new stake in shares of Biodesix during the 2nd quarter worth $2,874,000. 20.96% of the stock is owned by hedge funds and other 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.