Biodesix (NASDAQ:BDSX) Now Covered by Lake Street Capital

Stock analysts at Lake Street Capital started coverage on shares of Biodesix (NASDAQ:BDSX) in a research note issued on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Lake Street Capital’s price target points to a potential upside of 114.29% from the stock’s previous close.

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $3.50 price objective on shares of Biodesix in a report on Monday, March 4th.

Biodesix Price Performance

NASDAQ BDSX opened at $1.40 on Friday. The company has a market cap of $160.57 million, a price-to-earnings ratio of -2.15 and a beta of 1.15. The company has a debt-to-equity ratio of 7.69, a current ratio of 1.19 and a quick ratio of 1.19. The stock’s fifty day moving average price is $1.39 and its 200 day moving average price is $1.57. Biodesix has a 1 year low of $1.03 and a 1 year high of $2.21.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings results on Friday, March 1st. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. Biodesix had a negative return on equity of 29,379.44% and a negative net margin of 106.23%. The business had revenue of $14.67 million for the quarter, compared to the consensus estimate of $15.76 million. As a group, equities research analysts forecast that Biodesix will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In other Biodesix news, CEO Scott Hutton sold 29,708 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $1.66, for a total value of $49,315.28. Following the completion of the transaction, the chief executive officer now directly owns 465,011 shares of the company’s stock, valued at $771,918.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 96,128 shares of company stock valued at $173,035 over the last ninety days. Company insiders own 63.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BDSX. Oracle Investment Management Inc. purchased a new position in Biodesix during the third quarter worth approximately $69,000. Opaleye Management Inc. raised its stake in shares of Biodesix by 9.0% during 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 period. Finally, Essex Investment Management Co. LLC lifted its position in shares of Biodesix by 1.4% during the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after buying an additional 12,669 shares in the last quarter. Hedge funds and other institutional investors own 20.96% of the company’s stock.

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.