Biodesix price target lowered to $20 from $30 at Canaccord

Canaccord lowered the firm’s price target on Biodesix (BDSX) to $20 from $30 and keeps a Buy rating on the shares. The firm updated its model to reflect its 20-for-1 reverse split which reduces the amount of outstanding shares to 8 million from 156 million. Importantly, the company appears to have an at-the-market facility it could leverage to help it maintain operations through potentially cash flow breakeven/profitability.