Biodesix (NASDAQ:BDSX) Receives New Coverage from Analysts at Craig Hallum

Equities researchers at Craig Hallum began coverage on shares of Biodesix (NASDAQ:BDSX) in a research report issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Craig Hallum’s price objective would indicate a potential upside of 80.72% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. TD Cowen began coverage on Biodesix in a report on Monday, May 13th. They set a “buy” rating and a $2.80 price objective on the stock. Lake Street Capital assumed coverage on Biodesix in a report on Friday, May 3rd. They set a “buy” rating and a $3.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Biodesix presently has an average rating of “Buy” and an average price target of $3.08.

Biodesix Stock Performance

Shares of NASDAQ BDSX opened at $1.66 on Friday. The stock has a market cap of $190.39 million, a price-to-earnings ratio of -3.02 and a beta of 1.21. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 7.69. Biodesix has a 1-year low of $1.03 and a 1-year high of $2.21. The stock’s 50-day moving average is $1.56 and its 200 day moving average is $1.57.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $14.82 million for the quarter, compared to analysts’ expectations of $14.00 million. Biodesix had a negative return on equity of 29,379.44% and a negative net margin of 85.80%. On average, sell-side analysts anticipate that Biodesix will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Biodesix

Large investors have recently bought and sold shares of the stock. Oracle Investment Management Inc. increased its stake in Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock worth $112,000 after purchasing an additional 18,863 shares during the period. Opaleye Management Inc. grew its position in shares of Biodesix by 9.0% in the 4th 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 last quarter. Finally, Essex Investment Management Co. LLC grew its position in shares of Biodesix by 1.4% in the 1st 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. 20.96% of the stock is owned by hedge funds and other institutional investors.

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.