Canaccord Genuity analyst Kyle Mikson CFA maintained a Buy rating on Biodesix today and set a price target of $1.50.
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Kyle Mikson CFA’s rating is based on Biodesix’s strong performance in the second quarter of 2025, where the company reported revenue and lung diagnostics test volume growth that surpassed expectations. The company achieved a total revenue of $20 million, marking a 12% year-over-year increase, and lung diagnostics revenue grew by 8% year-over-year. This positive financial performance is complemented by the company’s effective sales force reconfiguration strategy, which aims to expand the sales team significantly by the end of the year, potentially driving further revenue growth.
Additionally, Biodesix has reiterated its 2025 revenue guidance and aims to achieve positive adjusted EBITDA by the fourth quarter of 2025. The company’s strategic focus on expanding its sales territories and enhancing its commercial strategy to include both pulmonologists and primary care physicians is expected to support long-term growth. These factors, combined with the potential for significant upside to the price target, contribute to the Buy rating, suggesting that Biodesix shares are attractive at their current valuation.
Mikson CFA covers the Healthcare sector, focusing on stocks such as Exact Sciences, Illumina, and Quanterix. According to TipRanks, Mikson CFA has an average return of -10.2% and a 29.44% success rate on recommended stocks.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $2.00 price target.