Biodesix, Inc. (NASDAQ:BDSX) Receives $3.06 Average PT from Analysts

Shares of Biodesix, Inc. (NASDAQ:BDSX) have been given an average recommendation of “Buy” by the six research firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.06.

BDSX has been the topic of a number of analyst reports. 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 target price on the stock. Craig Hallum assumed coverage on Biodesix in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price target on the stock.

Insider Activity

In other news, Chairman John Patience purchased 75,000 shares of Biodesix stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $1.38 per share, for a total transaction of $103,500.00. Following the transaction, the chairman now owns 2,153,298 shares of the company’s stock, valued at approximately $2,971,551.24. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Biodesix news, Director Matthew Strobeck bought 40,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $1.40 per share, with a total value of $56,000.00. Following the completion of the purchase, the director now owns 2,606,879 shares in the company, valued at $3,649,630.60. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John Patience purchased 75,000 shares of Biodesix stock in a transaction dated Tuesday, November 5th. The stock was bought at an average price of $1.38 per share, for a total transaction of $103,500.00. Following the completion of the purchase, the chairman now owns 2,153,298 shares in the company, valued at $2,971,551.24. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 1,379 shares of company stock worth $2,165. 69.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biodesix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC grew its stake 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 worth $1,324,000 after buying an additional 12,669 shares during the last quarter. 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 acquiring an additional 38,157 shares during the last quarter. CVI Holdings LLC acquired a new position in Biodesix in the 2nd quarter worth about $59,000. Landscape Capital Management L.L.C. bought a new position in Biodesix in the third quarter valued at about $262,000. Finally, Perkins Capital Management Inc. boosted its stake in shares of Biodesix by 74.7% during the third quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock valued at $1,290,000 after purchasing an additional 310,000 shares in the last quarter. Institutional investors own 20.96% of the company’s stock.

Biodesix Stock Performance

NASDAQ:BDSX opened at $1.37 on Friday. The stock has a 50 day simple moving average of $1.67 and a 200 day simple moving average of $1.61. The stock has a market cap of $199.29 million, a P/E ratio of -3.51 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 current ratio of 3.40, a quick ratio of 3.28 and a debt-to-equity ratio of 1.30.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Friday, November 1st. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. The company had revenue of $18.15 million during the quarter, compared to the consensus estimate of $18.45 million. During the same quarter last year, the firm earned ($0.12) earnings per share. Research analysts anticipate that Biodesix will post -0.35 earnings per share for the current year.

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.