CareDx, Inc (NASDAQ:CDNA) Given Consensus Recommendation of “Buy” by Analysts

Shares of CareDx, Inc (NASDAQ:CDNAGet Rating) have earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $76.50.

A number of brokerages have recently issued reports on CDNA. Raymond James cut their target price on shares of CareDx from $90.00 to $52.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 25th. StockNews.com downgraded shares of CareDx from a “hold” rating to a “sell” rating in a research report on Friday, April 8th. Zacks Investment Research raised shares of CareDx from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. BTIG Research dropped their price target on CareDx from $100.00 to $65.00 in a research report on Monday, February 28th. Finally, Stephens assumed coverage on CareDx in a report on Monday, April 25th. They issued an “overweight” rating and a $50.00 price target on the stock.

CareDx stock opened at $24.92 on Tuesday. The firm has a market capitalization of $1.33 billion, a PE ratio of -26.23 and a beta of 0.81. The stock’s 50 day moving average price is $33.65 and its 200 day moving average price is $39.24. CareDx has a one year low of $21.25 and a one year high of $96.88.

CareDx (NASDAQ:CDNAGet Rating) last released its earnings results on Thursday, February 24th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.12). The business had revenue of $79.22 million for the quarter, compared to analysts’ expectations of $78.10 million. CareDx had a negative net margin of 16.09% and a negative return on equity of 10.58%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) earnings per share. On average, sell-side analysts anticipate that CareDx will post -0.92 earnings per share for the current year.

In other CareDx news, insider Reginald Seeto sold 2,888 shares of the firm’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $40.43, for a total transaction of $116,761.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George Bickerstaff sold 25,000 shares of the business’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $39.11, for a total transaction of $977,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,220 shares of company stock worth $2,084,659. Company insiders own 4.60% of the company’s stock.

Several large investors have recently bought and sold shares of the company. ARK Investment Management LLC grew its stake in shares of CareDx by 6.7% in the 4th quarter. ARK Investment Management LLC now owns 3,638,774 shares of the company’s stock worth $165,491,000 after purchasing an additional 228,621 shares during the last quarter. State Street Corp increased its holdings in shares of CareDx by 32.5% in the first quarter. State Street Corp now owns 3,040,586 shares of the company’s stock valued at $112,471,000 after buying an additional 745,779 shares in the last quarter. Invesco Ltd. lifted its position in shares of CareDx by 1.3% during the 3rd quarter. Invesco Ltd. now owns 2,999,340 shares of the company’s stock valued at $190,068,000 after acquiring an additional 39,945 shares during the last quarter. Bellevue Group AG lifted its position in shares of CareDx by 57.6% during the 1st quarter. Bellevue Group AG now owns 2,311,176 shares of the company’s stock valued at $85,490,000 after acquiring an additional 844,624 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of CareDx by 31.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,967,234 shares of the company’s stock worth $72,768,000 after acquiring an additional 465,319 shares in the last quarter.

CareDx Company Profile (Get Rating)

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It 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.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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