Biodesix (NASDAQ:BDSX) Given New $34.00 Price Target at HC Wainwright

Biodesix (NASDAQ:BDSX) had its target price reduced by analysts at HC Wainwright from $38.00 to $34.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright‘s target price points to a potential upside of 298.59% from the company’s previous close.

BDSX has been the subject of several other reports. Weiss Ratings upgraded shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. Canaccord Genuity Group raised their target price on shares of Biodesix from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, TD Cowen restated a “buy” rating and set a $40.00 target price (up from $30.00) on shares of Biodesix in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.20.

Biodesix Price Performance

Shares of NASDAQ:BDSX opened at $8.53 on Monday. 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. The stock has a market capitalization of $90.00 million, a P/E ratio of -3.09 and a beta of 0.65. The stock has a 50-day simple moving average of $25.53 and a 200-day simple moving average of $18.90.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Thursday, November 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.75). Biodesix had a negative net margin of 25.74% and a negative return on equity of 513.78%. The firm had revenue of $24.04 million during the quarter, compared to the consensus estimate of $27.49 million. Equities analysts forecast that Biodesix will post -2.68 earnings per share for the current year.

Insider Buying and Selling

In other Biodesix news, Director Jack Schuler bought 15,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the purchase, the director directly owned 555,810 shares in the company, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC increased its position in Biodesix by 1.1% in the third quarter. AIGH Capital Management LLC now owns 686,021 shares of the company’s stock worth $20,464,000 after buying an additional 7,693 shares during the period. Squarepoint Ops LLC bought a new stake in Biodesix in the second quarter valued at $354,000. Bank of America Corp DE acquired a new position in shares of Biodesix during the second quarter valued at $603,000. Allworth Financial LP acquired a new position in shares of Biodesix during the second quarter valued at $112,000. Finally, BlackRock Inc. bought a new position in shares of Biodesix during the second quarter worth about $970,000. 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.