Canaccord Lifts PT on Biodesix (BDSX) on Raised Revenue Assumptions
Key takeaways
- Canaccord Lifts PT on Biodesix (BDSX) on Raised Revenue Assumptions Noor Ul Ain Rehman Sat, May 23, 2026 at 7:16 PM GMT+7 2 min read BDSX CF-PA.TO Biodesix, Inc.
- (NASDAQ:BDSX) reported business and financial results for fiscal Q1 2026 on May 4, reporting that Diagnostic Testing revenue reached $22.3 million in the quarter, representing 37% year-over-year growth.
- (NASDAQ:BDSX) further reported that total revenue for fiscal Q1 2026 was $25.6 million, up 42% over the respective prior-year comparable period, with an 84% gross margin.
Canaccord Lifts PT on Biodesix (BDSX) on Raised Revenue Assumptions Noor Ul Ain Rehman Sat, May 23, 2026 at 7:16 PM GMT+7 2 min read BDSX CF-PA.TO Biodesix, Inc. (NASDAQ:BDSX) is one of the best oversold growth stocks to invest in now. Canaccord lifted the price target on Biodesix, Inc. (NASDAQ:BDSX) to $22 from $20 on May 5, reiterating a Buy rating on the shares. The firm stated that the price target increase is driven primarily by raised revenue assumptions and operating margin expansion in its 10-year DCF model.
The rating update came after Biodesix, Inc. (NASDAQ:BDSX) reported business and financial results for fiscal Q1 2026 on May 4, reporting that Diagnostic Testing revenue reached $22.3 million in the quarter, representing 37% year-over-year growth. This was attributed to a 29% increase in test volumes to 17,800 and a higher average revenue per test, while the improvement in average revenue per test was primarily driven by expanded payer coverage and enhancements to revenue cycle management.
Biodesix, Inc. (NASDAQ:BDSX) further reported that total revenue for fiscal Q1 2026 was $25.6 million, up 42% over the respective prior-year comparable period, with an 84% gross margin.