BDSX - Biodesix stock soars 8% as Cowen starts coverage with Outperform rating

Biodesix (NASDAQ:BDSX) stock rose ~8% on April 20 after Cowen initiated coverage of the company with an Outperform rating and no price target. Analyst Max Masucci believes the company's $44M market capitalization understates the value of its core intellectual property and liquid biopsy testing capabilities. Earlier in April, the company reaffirmed its previous guidance expecting to generate revenue between $37.5M to $39.5M in 2022. The consensus revenue estimate for 2022 is $38.54M. The analyst added that Biodesix's blood-based liquid biopsy approach has demonstrated "promising performance" and the opportunity to improve lung cancer patient outcomes while lowering healthcare costs.

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Biodesix stock soars 8% as Cowen starts coverage with Outperform rating