The Goldman Sachs Group Increases CareDx (NASDAQ:CDNA) Price Target to $26.00

CareDx (NASDAQ:CDNA) had its price objective upped by The Goldman Sachs Group from $16.00 to $26.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on CDNA. StockNews.com cut CareDx from a buy rating to a hold rating in a research note on Friday, July 5th. Craig Hallum raised their price target on CareDx from $15.00 to $22.00 and gave the company a buy rating in a report on Friday, May 17th. Stephens raised their price target on CareDx from $15.00 to $18.00 and gave the company an overweight rating in a report on Monday, May 13th. HC Wainwright reissued a neutral rating on shares of CareDx in a report on Thursday. Finally, Raymond James lowered CareDx from an outperform rating to a market perform rating in a report on Monday, May 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, CareDx has a consensus rating of Moderate Buy and a consensus target price of $22.00.

CareDx Stock Performance

CDNA traded up $0.81 on Thursday, reaching $23.69. 1,544,630 shares of the company’s stock were exchanged, compared to its average volume of 897,299. The company’s 50 day moving average is $16.00 and its 200-day moving average is $12.22. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -6.69 and a beta of 1.78. CareDx has a twelve month low of $4.80 and a twelve month high of $26.50.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.18. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The company had revenue of $72.05 million during the quarter, compared to the consensus estimate of $63.63 million. Sell-side analysts forecast that CareDx will post -1.49 EPS for the current year.

Institutional Investors Weigh In On CareDx

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after purchasing an additional 2,013 shares during the last quarter. Headlands Technologies LLC acquired a new stake in CareDx in the 4th quarter worth approximately $50,000. Nisa Investment Advisors LLC lifted its holdings in CareDx by 442.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock worth $77,000 after purchasing an additional 5,253 shares during the last quarter. Quest Partners LLC acquired a new stake in CareDx in the 4th quarter worth approximately $117,000. Finally, Cetera Trust Company N.A acquired a new stake in CareDx in the 4th quarter worth approximately $142,000.

About CareDx

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.