Biodesix: Strong Operational Momentum but Ongoing Capital Concerns Justify Hold Rating

William Blair analyst Andrew Brackmann has maintained their neutral stance on BDSX stock, giving a Hold rating on January 9.

Andrew Brackmann has given his Hold rating due to a combination of factors that balance clear operational progress with remaining financial and execution risks. He highlights that Biodesix delivered a notably strong preliminary fourth quarter, with revenue materially exceeding expectations, stronger lung testing volumes, and improving test pricing, all contributing to a faster growth profile. The company’s reaffirmation of achieving AEBITDA breakeven in the fourth quarter is viewed as an important inflection point, supported by better-than-anticipated sales force productivity and a more effective commercial strategy.

At the same time, Brackmann underscores that the company’s balance sheet remains a central concern, as investors still question whether current cash levels are sufficient to fund the path to sustained profitability. Although quarterly cash burn appears to be moderating and recent results help rebuild confidence, he does not yet see enough visibility or cushion on the capital side to justify a more constructive rating. In his view, the stock’s low valuation and recent business momentum warrant maintaining exposure, but unresolved funding and execution uncertainties keep the risk/reward profile balanced, supporting a Hold (Market Perform) stance rather than an outright Buy.

According to TipRanks, Brackmann is a 5-star analyst with an average return of 35.6% and a 67.21% success rate. Brackmann covers the Healthcare sector, focusing on stocks such as BillionToOne, Inc. Class A, Exact Sciences, and Adaptive Biotechnologies.

In another report released on January 9, TipRanks – OpenAI also reiterated a Hold rating on the stock with a $5.50 price target.