TD Cowen analyst Daniel Brennan reiterated a Buy rating on Biodesix (BDSX – Research Report) today and set a price target of $3.00.
Daniel Brennan has given his Buy rating due to a combination of factors that suggest a positive outlook for Biodesix. The company’s management has expressed optimism about the improvements in their salesforce, which is expected to enhance productivity and drive sales growth. Additionally, the firm has outlined a clear path to achieving positive free cash flow, supported by sufficient cash reserves and access to a loan facility if needed.
Despite a challenging second half of 2024, with weather-related issues and slower diagnostic results, the company is on track to expand its salesforce and improve sales metrics. The revenue guidance for 2025 aligns with market expectations, and management is confident in reaching adjusted EBITDA positivity by the second half of the year. Furthermore, potential updates to lung cancer screening guidelines could provide significant revenue growth opportunities in the future, reinforcing the Buy recommendation.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $3.00 price target.