Biodesix (NASDAQ:BDSX) Stock Gets Price Target Cut from Lake Street Capital

Biodesix (NASDAQ:BDSX) had its target price reduced by Lake Street Capital from $40.00 to $30.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also commented on the company. Canaccord Genuity Group increased their price objective on Biodesix from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 10th. TD Cowen reissued a “buy” rating and issued a $40.00 target price (up from $30.00) on shares of Biodesix in a research note on Tuesday, October 13th. HC Wainwright cut their target price on shares of Biodesix from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday. Finally, Weiss Ratings upgraded shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Biodesix Price Performance

BDSX stock opened at $8.53 on Friday. The stock’s 50 day moving average price is $25.53 and its 200 day moving average price is $18.90. The firm has a market cap of $90.00 million, a P/E ratio of -3.09 and a beta of 0.65. The company has a debt-to-equity ratio of 5.12, a quick ratio of 2.85 and a current ratio of 2.85. Biodesix has a 1 year low of $5.26 and a 1 year high of $31.97.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate of ($0.75). Biodesix had a negative return on equity of 513.78% and a negative net margin of 25.74%. The company had revenue of $24.04 million during the quarter, compared to the consensus estimate of $27.49 million. On average, sell-side analysts expect that Biodesix will post -2.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biodesix news, Director Jack Schuler purchased 15,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was bought at an average cost of $24.47 per share, for a total transaction of $367,050.00. Following the acquisition, the director owned 555,810 shares of the company’s stock, valued at approximately $13,600,670.70. The trade was a 2.77% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Biodesix

Several hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers boosted its stake in Biodesix by 20.0% in the 1st quarter. Cetera Investment Advisers now owns 12,000 shares of the company’s stock worth $174,000 after buying an additional 2,000 shares during the last quarter. Allworth Financial LP purchased a new stake in Biodesix in the 2nd quarter valued at about $112,000. AIGH Capital Management LLC increased its stake in shares of Biodesix by 1.1% during the 3rd quarter. AIGH Capital Management LLC now owns 686,021 shares of the company’s stock valued at $20,464,000 after acquiring an additional 7,693 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Biodesix during the 1st quarter valued at about $157,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Biodesix during the 1st quarter valued at about $173,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

Biodesix Company Profile

Biodesix, Inc is a data-driven diagnostic solutions company focused on improving the diagnosis and treatment of lung diseases, including lung cancer. The company combines proprietary molecular diagnostic technologies, clinical data, and artificial intelligence to help physicians assess disease risk and make more informed treatment decisions.

Its offerings include blood-based tests designed to help evaluate indeterminate pulmonary nodules, identify patients who may be at higher risk of lung cancer, and support treatment selection and monitoring.