Biodesix (NASDAQ:BDSX) Earns Buy Rating from Analysts at Craig Hallum

Craig Hallum assumed coverage on shares of Biodesix (NASDAQ:BDSX) in a report released on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $3.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. TD Cowen initiated coverage on Biodesix in a research report on Monday, May 13th. They issued a buy rating and a $2.80 target price for the company. Lake Street Capital began coverage on Biodesix in a research report on Friday, May 3rd. They issued a buy rating and a $3.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $3.08.

Biodesix Stock Performance

BDSX opened at $1.72 on Friday. The company has a market capitalization of $197.27 million, a price-to-earnings ratio of -3.13 and a beta of 1.21. The company has a debt-to-equity ratio of 7.69, a current ratio of 0.91 and a quick ratio of 0.91. Biodesix has a 1-year low of $1.03 and a 1-year high of $2.21. The business has a 50 day moving average price of $1.56 and a two-hundred day moving average price of $1.56.

Biodesix (NASDAQ:BDSX) last released its earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $14.82 million during the quarter, compared to the consensus estimate of $14.00 million. Biodesix had a negative return on equity of 29,379.44% and a negative net margin of 85.80%. Research analysts predict that Biodesix will post -0.36 EPS for the current fiscal year.

Institutional Trading of Biodesix

A number of hedge funds have recently bought and sold shares of BDSX. Essex Investment Management Co. LLC increased its position in shares of Biodesix by 1.4% in the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after acquiring an additional 12,669 shares in the last quarter. Oracle Investment Management Inc. boosted 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 worth $112,000 after purchasing an additional 18,863 shares during the period. Finally, Opaleye Management Inc. grew its position in 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 in the last quarter. 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.