BTIG Starts Biodesix (BDSX) at Buy

BTIG analyst Sung Ji Nam initiates coverage on Biodesix (NASDAQ: BDSX) with a Buy rating and a price target of $22.00.

The analyst commented, "BDSX is a diagnostics company focused on developing innovative liquid biopsy-based solutions across the lung cancer continuum of care. Lung cancer is the deadliest cancer in the U.S. today, with the lowest survival rate among the top five most common cancer types as well as the worst relative prognosis across all stages of the disease. As such, the need for better diagnostic solutions that can detect cancer earlier and enable precision medicine for lung cancer patients is paramount and also a significant market opportunity. We believe BDSX is well-positioned to capitalize on the multi billion-dollar TAM potential, leveraging its product portfolio and expertise in multi-omic assessment of lung cancer to develop new products and offer differentiated services. Excluding the recently launched COVID-19 testing capabilities, we estimate that BDSX can grow its top line at ~30% CAGR (2019-2022)."

For an analyst ratings summary and ratings history on Biodesix click here. For more ratings news on Biodesix click here.

Shares of Biodesix closed at $17.09 yesterday.

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