Biodesix (NASDAQ:BDSX) Posts Earnings Results, Beats Expectations By $0.01 EPS

Biodesix (NASDAQ:BDSX) announced its earnings results on Friday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01, RTT News reports. The firm had revenue of $18.15 million for the quarter, compared to analysts’ expectations of $18.45 million. Biodesix had a negative net margin of 73.08% and a negative return on equity of 505.95%. During the same period in the prior year, the company earned ($0.12) EPS. Biodesix updated its FY 2024 guidance to EPS.

Biodesix Trading Down 23.5 %

Shares of Biodesix stock traded down $0.40 on Friday, hitting $1.30. 556,069 shares of the company traded hands, compared to its average volume of 149,748. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.99. The company has a market cap of $188.73 million, a PE ratio of -2.83 and a beta of 1.22. The stock’s 50 day moving average price is $1.72 and its 200-day moving average price is $1.60. Biodesix has a 52 week low of $1.15 and a 52 week high of $2.21.

Analyst Ratings Changes

A number of brokerages recently issued reports on BDSX. Scotiabank initiated coverage on Biodesix in a research report on Monday, September 16th. They issued a “sector outperform” rating and a $3.00 price target for the company. Craig Hallum began coverage on shares of Biodesix in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $3.06.

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.