Biodesix, Inc.

NasdaqGM:BDSX Stock Report

Market Cap: US$180.4m

Biodesix Valuation

Is BDSX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BDSX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BDSX ($1.24) is trading below our estimate of fair value ($15.32)

Significantly Below Fair Value: BDSX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BDSX?

Key metric: As BDSX is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BDSX. This is calculated by dividing BDSX's market cap by their current revenue.
What is BDSX's PS Ratio?
PS Ratio2.8x
SalesUS$65.56m
Market CapUS$180.38m

Price to Sales Ratio vs Peers

How does BDSX's PS Ratio compare to its peers?

The above table shows the PS ratio for BDSX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.9x
INFU InfuSystem Holdings
1.5x8.6%US$193.5m
MODV ModivCare
0.08x5.7%US$222.7m
PFMT Performant Financial
2x9.0%US$238.0m
AONC American Oncology Network
0.06xn/aUS$175.0m
BDSX Biodesix
2.8x19.7%US$180.4m

Price-To-Sales vs Peers: BDSX is expensive based on its Price-To-Sales Ratio (2.8x) compared to the peer average (0.9x).

Price to Sales Ratio vs Industry

How does BDSX's PS Ratio compare vs other companies in the US Healthcare Industry?

32 CompaniesPrice / SalesEstimated GrowthMarket Cap
MCK McKesson
0.2x8.1%US$78.15b
CVS CVS Health
0.2x4.7%US$70.18b
COR Cencora
0.2x6.4%US$47.23b
CNC Centene
0.2x5.5%US$29.19b
BDSX 2.8xIndustry Avg. 1.0xNo. of Companies32PS012345+
32 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BDSX is expensive based on its Price-To-Sales Ratio (2.8x) compared to the US Healthcare industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is BDSX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BDSX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.8x
Fair PS Ratio3.7x

Price-To-Sales vs Fair Ratio: BDSX is good value based on its Price-To-Sales Ratio (2.8x) compared to the estimated Fair Price-To-Sales Ratio (3.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BDSX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.24
US$3.10
+150.0%
6.5%US$3.50US$3.00n/a5
Nov ’25US$1.30
US$3.10
+138.5%
6.5%US$3.50US$3.00n/a5
Oct ’25US$1.77
US$3.13
+76.6%
6.9%US$3.50US$3.00n/a4
Sep ’25US$1.96
US$3.13
+59.4%
6.9%US$3.50US$3.00n/a4
Aug ’25US$1.63
US$3.08
+88.7%
8.4%US$3.50US$2.80n/a4
Jul ’25US$1.53
US$3.10
+102.6%
9.5%US$3.50US$2.80n/a3
Jun ’25US$1.43
US$3.10
+116.8%
9.5%US$3.50US$2.80n/a3
Mar ’25US$1.58
US$2.75
+74.1%
27.3%US$3.50US$2.00n/a2
Feb ’25US$2.11
US$2.75
+30.3%
27.3%US$3.50US$2.00n/a2
Jan ’25US$1.84
US$4.25
+131.0%
17.6%US$5.00US$3.50n/a2
Dec ’24US$1.49
US$4.25
+185.2%
17.6%US$5.00US$3.50n/a2
Nov ’24US$1.39
US$4.25
+205.8%
17.6%US$5.00US$3.50US$1.302
Oct ’24US$1.65
US$4.25
+157.6%
17.6%US$5.00US$3.50US$1.772
Sep ’24US$1.53
US$4.25
+177.8%
17.6%US$5.00US$3.50US$1.962
Aug ’24US$1.43
US$4.25
+197.2%
17.6%US$5.00US$3.50US$1.632

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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