Lake Street Capital Has Lowered Expectations for Biodesix (NASDAQ:BDSX) Stock Price

Biodesix (NASDAQ:BDSX) had its target price reduced by equities researchers at Lake Street Capital from $40.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital‘s target price would indicate a potential upside of 251.70% from the company’s current price.

Other research analysts have also recently issued reports about the company. HC Wainwright decreased their price objective on Biodesix from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Monday. Canaccord Genuity Group increased their target price on shares of Biodesix from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 10th. TD Cowen reissued a “buy” rating and set a $40.00 price objective (up from $30.00) on shares of Biodesix in a research report on Tuesday, October 13th. Finally, Weiss Ratings upgraded shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.20.

Biodesix Price Performance

Biodesix stock opened at $8.53 on Friday. The firm has a market capitalization of $90.00 million, a price-to-earnings ratio of -3.09 and a beta of 0.65. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 5.12. Biodesix has a 52-week low of $5.26 and a 52-week high of $31.97. The company has a fifty day simple moving average of $25.53 and a 200-day simple moving average of $18.90.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Thursday, November 5th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate of ($0.75). Biodesix had a negative return on equity of 513.78% and a negative net margin of 25.74%. The business had revenue of $24.04 million for the quarter, compared to analysts’ expectations of $27.49 million. On average, equities analysts anticipate that Biodesix will post -2.68 EPS for the current fiscal year.

Insider Buying and Selling at Biodesix

In other Biodesix news, Director Jack Schuler bought 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the purchase, the director owned 555,810 shares of the company’s stock, valued at approximately $13,600,670.70. This represents a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Biodesix

A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new stake in shares of Biodesix in the second quarter valued at approximately $112,000. Walleye Capital LLC purchased a new position in Biodesix in the first quarter worth $157,000. Renaissance Technologies LLC purchased a new position in Biodesix in the first quarter worth $173,000. Cetera Investment Advisers raised its position in Biodesix by 20.0% in the first quarter. Cetera Investment Advisers now owns 12,000 shares of the company’s stock worth $174,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Biodesix in the second quarter valued at $354,000. Hedge funds and other institutional investors own 20.96% of the company’s stock.

About Biodesix

Biodesix, Inc is a data-driven diagnostic solutions company focused on improving the diagnosis and treatment of lung diseases, including lung cancer. The company combines proprietary molecular diagnostic technologies, clinical data, and artificial intelligence to help physicians assess disease risk and make more informed treatment decisions.

Its offerings include blood-based tests designed to help evaluate indeterminate pulmonary nodules, identify patients who may be at higher risk of lung cancer, and support treatment selection and monitoring.