Biodesix (NASDAQ:BDSX) Coverage Initiated at Scotiabank

Scotiabank began coverage on shares of Biodesix (NASDAQ:BDSX) in a report released on Monday, MarketBeat Ratings reports. The brokerage issued a sector outperform rating and a $3.00 price target on the stock.

Separately, Craig Hallum initiated coverage on Biodesix in a report on Friday, July 26th. They issued a buy rating and a $3.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $3.06.

Biodesix Trading Up 2.3 %

Biodesix stock opened at $1.78 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. Biodesix has a one year low of $1.15 and a one year high of $2.21. The stock has a market capitalization of $204.14 million, a PE ratio of -3.24 and a beta of 1.23. The business’s fifty day moving average is $1.74 and its 200 day moving average is $1.55.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Biodesix had a negative return on equity of 505.95% and a negative net margin of 73.08%. The company had revenue of $17.93 million for the quarter, compared to the consensus estimate of $16.05 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, sell-side analysts predict that Biodesix will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. CVI Holdings LLC bought a new position in shares of Biodesix in the second quarter worth about $59,000. Oracle Investment Management Inc. raised its stake in shares of Biodesix by 44.8% in the fourth quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock worth $112,000 after buying an additional 18,863 shares during the period. Opaleye Management Inc. raised its stake in shares of Biodesix by 9.0% in the fourth 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 raised its stake 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 buying an additional 12,669 shares during the period. Finally, Farallon Capital Management LLC bought a new position in shares of Biodesix in the second quarter worth about $2,874,000. Institutional investors own 20.96% of the company’s stock.

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.