Biodesix (NASDAQ:BDSX) Announces Earnings Results, Beats Estimates By $0.01 EPS

Biodesix (NASDAQ:BDSX) released its earnings results on Wednesday. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01, Zacks reports. Biodesix had a negative return on equity of 29,379.44% and a negative net margin of 85.80%. The firm had revenue of $17.93 million during the quarter, compared to analysts’ expectations of $16.05 million. During the same period in the previous year, the firm posted ($0.17) EPS. Biodesix updated its FY 2024 guidance to EPS.

Biodesix Stock Down 3.0 %

Shares of Biodesix stock traded down $0.05 during trading hours on Friday, hitting $1.59. The company had a trading volume of 62,627 shares, compared to its average volume of 142,466. The company has a debt-to-equity ratio of 7.69, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50-day moving average is $1.59 and its two-hundred day moving average is $1.54. The company has a market cap of $182.35 million, a P/E ratio of -2.89 and a beta of 1.21. Biodesix has a twelve month low of $1.15 and a twelve month high of $2.21.

Analysts Set New Price Targets

A number of brokerages have recently commented on BDSX. Craig Hallum began coverage on Biodesix in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price objective for the company. Lake Street Capital assumed coverage on shares of Biodesix in a report on Friday, May 3rd. They issued a “buy” rating and a $3.00 price objective on the stock. Finally, TD Cowen assumed coverage on shares of Biodesix in a research note on Monday, May 13th. They set a “buy” rating and a $2.80 target price for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Biodesix has a consensus rating of “Buy” and an average price target of $3.08.

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.