CareDx, Inc (NASDAQ:CDNA) Receives $28.33 Average PT from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $32.00.

Several research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “neutral” rating and set a $26.00 price objective on shares of CareDx in a research report on Tuesday, January 14th. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Stephens reaffirmed an “overweight” rating and set a $40.00 price objective on shares of CareDx in a research report on Thursday. BTIG Research reduced their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday.

CareDx Price Performance

Shares of CareDx stock opened at $22.15 on Tuesday. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The business has a 50-day moving average of $22.69 and a two-hundred day moving average of $25.23. The company has a market capitalization of $1.19 billion, a P/E ratio of -8.20 and a beta of 1.87.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $1.46. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $86.58 million during the quarter, compared to the consensus estimate of $84.56 million. On average, equities analysts anticipate that CareDx will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in CareDx during the third quarter valued at approximately $27,000. Sterling Capital Management LLC boosted its position in CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after purchasing an additional 1,126 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in CareDx in the third quarter valued at approximately $52,000. Tower Research Capital LLC TRC raised its stake in CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after buying an additional 3,322 shares during the period. Finally, State of Wyoming bought a new stake in CareDx in the fourth quarter valued at approximately $91,000.

CareDx Company Profile

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.