Biodesix, Inc. (NASDAQ:BDSX) Given Average Recommendation of “Buy” by Analysts

Shares of Biodesix, Inc. (NASDAQ:BDSX) have received an average rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is $3.06.

A number of equities analysts have recently issued reports on the company. Scotiabank initiated coverage on Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 price objective for the company. Craig Hallum began 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.

Hedge Funds Weigh In On Biodesix

Several institutional investors have recently added to or reduced their stakes in BDSX. Oracle Investment Management Inc. increased its stake in shares of Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after acquiring an additional 18,863 shares in the last quarter. Opaleye Management Inc. raised its holdings in shares of Biodesix by 9.0% during the fourth quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock valued at $914,000 after purchasing an additional 40,927 shares during the period. Essex Investment Management Co. LLC raised its holdings in shares of Biodesix by 1.4% during the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after purchasing an additional 12,669 shares during the period. AIGH Capital Management LLC boosted its position in shares of Biodesix by 74.0% during the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock worth $8,843,000 after purchasing an additional 2,458,727 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in shares of Biodesix in the 2nd quarter valued at about $2,874,000. 20.96% of the stock is owned by institutional investors and hedge funds.

Biodesix Stock Up 1.1 %

NASDAQ:BDSX opened at $1.80 on Friday. Biodesix has a one year low of $1.15 and a one 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. The company has a market cap of $206.43 million, a PE ratio of -3.27 and a beta of 1.23. The firm’s 50 day simple moving average is $1.75 and its 200 day simple moving average is $1.55.

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

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.