Biodesix (NASDAQ:BDSX) Coverage Initiated at Scotiabank

Scotiabank began coverage on shares of Biodesix (NASDAQ:BDSX) in a research note issued to investors on Monday, MarketBeat.com reports. The firm issued a sector outperform rating and a $3.00 price target on the stock.

Separately, Craig Hallum assumed coverage on Biodesix in a research note on Friday, July 26th. They issued a buy rating and a $3.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $3.06.

Biodesix Price Performance

Shares of Biodesix stock opened at $1.78 on Monday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.99. The company has a market cap of $204.14 million, a PE ratio of -3.24 and a beta of 1.23. The business has a 50 day moving average of $1.74 and a 200 day moving average of $1.55. Biodesix has a 52 week low of $1.15 and a 52 week high of $2.21.

Biodesix (NASDAQ:BDSX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $17.93 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned ($0.17) earnings per share. As a group, equities research analysts forecast that Biodesix will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On Biodesix

A number of institutional investors have recently modified their holdings of BDSX. AIGH Capital Management LLC grew its stake in shares of Biodesix by 74.0% in the second quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock worth $8,843,000 after acquiring an additional 2,458,727 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in shares of Biodesix in the second quarter worth $3,326,000. Farallon Capital Management LLC purchased a new stake in shares of Biodesix in the second quarter worth $2,874,000. Opaleye Management Inc. grew its stake in shares of Biodesix by 9.0% in the fourth quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock worth $914,000 after acquiring an additional 40,927 shares during the last quarter. Finally, CVI Holdings LLC purchased a new stake in shares of Biodesix in the second quarter worth $59,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

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.