CareDx, Inc (NASDAQ:CDNA) Receives Average Rating of “Moderate Buy” from Analysts

CareDx, Inc (NASDAQ:CDNA) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Three investment 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 brokerages that have covered the stock in the last year is $31.83.

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. HC Wainwright lowered their price objective on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of CareDx in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th.

CareDx Price Performance

Shares of CDNA opened at $19.16 on Wednesday. CareDx has a 1-year low of $7.42 and a 1-year high of $34.84. The stock has a market cap of $1.06 billion, a PE ratio of -7.10 and a beta of 2.18. The firm has a fifty day moving average price of $20.06 and a 200 day moving average price of $22.59.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Divisadero Street Capital Management LP purchased a new stake in CareDx in the 4th quarter valued at approximately $15,239,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of CareDx by 52.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company’s stock valued at $26,625,000 after buying an additional 428,864 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of CareDx in the third quarter valued at approximately $10,873,000. Bamco Inc. NY boosted its stake in shares of CareDx by 17.6% in the fourth quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock valued at $47,258,000 after buying an additional 330,627 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in CareDx by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock worth $104,047,000 after acquiring an additional 323,554 shares during the period.

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.