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

Scotiabank started coverage on shares of Biodesix (NASDAQ:BDSX) in a report released on Monday, MarketBeat.com reports. The brokerage issued a sector outperform rating and a $3.00 target price on the stock.

Separately, Craig Hallum initiated coverage on shares of Biodesix in a research note on Friday, July 26th. They issued a buy rating and a $3.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Biodesix currently has a consensus rating of Buy and a consensus target price of $3.06.

Biodesix Trading Down 3.1 %

Shares of NASDAQ:BDSX opened at $1.74 on Monday. The firm has a fifty day moving average of $1.74 and a two-hundred day moving average of $1.55. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.99. Biodesix has a 12-month low of $1.15 and a 12-month high of $2.21. The firm has a market capitalization of $199.55 million, a P/E ratio of -3.16 and a beta of 1.23.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $17.93 million for the quarter, compared to analyst estimates of $16.05 million. Biodesix had a negative return on equity of 505.95% and a negative net margin of 73.08%. During the same period in the prior year, the firm posted ($0.17) EPS. On average, equities analysts expect that Biodesix will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CVI Holdings LLC bought a new position in shares of Biodesix in the second quarter worth about $59,000. Oracle Investment Management Inc. grew its holdings in Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after buying an additional 18,863 shares during the last quarter. Opaleye Management Inc. grew its holdings in Biodesix by 7.7% in the 1st quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock valued at $765,000 after buying an additional 38,157 shares during the last quarter. Essex Investment Management Co. LLC increased its position in 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 period. Finally, Farallon Capital Management LLC bought a new stake in shares of Biodesix in the second quarter valued at approximately $2,874,000. 20.96% of the stock is currently owned by institutional investors and hedge funds.

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.