Canaccord Genuity analyst Kyle Mikson CFA maintained a Buy rating on Biodesix (BDSX – Research Report) yesterday and set a price target of $3.50.
Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight Biodesix’s strong performance and promising future prospects. The company reported solid fourth-quarter results for 2024, with a notable 39% year-over-year increase in core lung diagnostics revenue and a gross margin of approximately 79%. These results align with the company’s previous announcements and demonstrate robust growth in its core business segment.
Furthermore, Biodesix is on a path to achieve adjusted EBITDA profitability by the second half of 2025, with cash flow breakeven expected shortly thereafter. The company’s strategic expansion of its sales force, particularly focusing on primary care referrals, is anticipated to drive sustained growth. Additionally, the initial 2025 guidance suggests over 30% growth in core lung diagnostics revenue, reinforcing the company’s strong growth trajectory. These factors, combined with Biodesix’s attractive margin profile and declining cash burn, contribute to the compelling investment opportunity in BDSX shares.
According to TipRanks, Mikson CFA is an analyst with an average return of -16.8% and a 25.73% success rate. Mikson CFA covers the Healthcare sector, focusing on stocks such as Natera, Guardant Health, and Castle Biosciences.