TD Cowen Begins Coverage on Biodesix (NASDAQ:BDSX)

TD Cowen started coverage on shares of Biodesix (NASDAQ:BDSX) in a research report sent to investors on Monday, MarketBeat reports. The firm issued a buy rating and a $2.80 price objective on the stock.

A number of other brokerages have also recently issued reports on BDSX. Lake Street Capital began coverage on Biodesix in a report on Friday, May 3rd. They set a buy rating and a $3.00 price objective for the company. 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $3.10.

Biodesix Price Performance

NASDAQ:BDSX opened at $1.53 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 7.69. Biodesix has a 12-month low of $1.03 and a 12-month high of $2.21. The stock’s 50 day moving average price is $1.39 and its two-hundred day moving average price is $1.57. The firm has a market capitalization of $174.90 million, a price-to-earnings ratio of -2.77 and a beta of 1.15.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings data on Friday, March 1st. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The firm had revenue of $14.67 million for the quarter, compared to the consensus estimate of $15.76 million. Biodesix had a negative net margin of 85.80% and a negative return on equity of 29,379.44%. On average, analysts anticipate that Biodesix will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Biodesix

A number of large investors have recently added to or reduced their stakes in the stock. Oracle Investment Management Inc. acquired a new stake in shares of Biodesix during the 3rd quarter worth $69,000. Essex Investment Management Co. LLC grew its stake in Biodesix by 1.4% during the first 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 in the last quarter. Finally, Opaleye Management Inc. increased its holdings in Biodesix by 9.0% in the 4th quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock valued at $914,000 after buying an additional 40,927 shares during the period. Institutional investors and hedge funds 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.