Raymond James Downgrades CareDx (NASDAQ:CDNA) to Market Perform

CareDx (NASDAQ:CDNAGet Free Report) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, MarketBeat.com reports.

A number of other research firms also recently issued reports on CDNA. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 price objective on shares of CareDx in a research note on Thursday, May 9th. The Goldman Sachs Group boosted their target price on CareDx from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Monday. Stephens lifted their price objective on shares of CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.75.

View Our Latest Analysis on CareDx

CareDx Stock Up 1.7 %

NASDAQ CDNA opened at $15.24 on Monday. CareDx has a twelve month low of $4.80 and a twelve month high of $15.91. The firm has a market cap of $793.70 million, a price-to-earnings ratio of -4.46 and a beta of 1.51. The business has a 50-day moving average price of $9.92 and a 200-day moving average price of $9.72.

CareDx (NASDAQ:CDNAGet Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.97). The company had revenue of $65.57 million during the quarter, compared to analysts’ expectations of $63.66 million. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. CareDx’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.34) EPS. Research analysts expect that CareDx will post -1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On CareDx

Institutional investors have recently modified their holdings of the stock. Gagnon Securities LLC increased its holdings in CareDx by 7.1% during the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after purchasing an additional 149,485 shares during the period. Gagnon Advisors LLC increased its position in CareDx by 10.0% during the 1st quarter. Gagnon Advisors LLC now owns 610,336 shares of the company’s stock valued at $6,463,000 after purchasing an additional 55,485 shares during the period. Acadian Asset Management LLC increased its position in CareDx by 4.7% during the 1st quarter. Acadian Asset Management LLC now owns 869,518 shares of the company’s stock valued at $9,206,000 after purchasing an additional 38,888 shares during the period. Vanguard Group Inc. raised its stake in CareDx by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after buying an additional 180,334 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in CareDx by 35.0% during the 1st quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock valued at $1,294,000 after acquiring an additional 31,667 shares in the last quarter.

About CareDx

(Get Free Report)

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.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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