CareDx, Inc. (NASDAQ:CDNA) Receives Consensus Recommendation of “Hold” from Analysts

CareDx, Inc. (NASDAQ:CDNA) has been given an average rating of “Hold” by the nine brokerages that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $26.6667.

Several research analysts recently issued reports on the company. BTIG Research lifted their target price on CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of CareDx in a research note on Monday, December 29th. Craig Hallum lowered shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research note on Tuesday, January 6th. Wells Fargo & Company raised their price target on shares of CareDx from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Finally, Zacks Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $20.57 on Friday. The company has a 50-day moving average price of $18.42 and a 200-day moving average price of $15.87. The stock has a market capitalization of $1.06 billion, a P/E ratio of 17.29 and a beta of 2.49. CareDx has a 1 year low of $10.96 and a 1 year high of $25.55.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.15. The business had revenue of $100.06 million for the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) EPS. As a group, equities research analysts anticipate that CareDx will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of CareDx

Hedge funds have recently bought and sold shares of the business. Bamco Inc. NY boosted its position in CareDx by 29.5% in the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after purchasing an additional 719,523 shares during the last quarter. Deerfield Management Company L.P. bought a new stake in shares of CareDx during the 3rd quarter worth $31,857,000. Braidwell LP bought a new stake in shares of CareDx during the 3rd quarter worth $31,738,000. ARK Investment Management LLC boosted its holdings in shares of CareDx by 3.4% in the 3rd quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after buying an additional 70,468 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd grew its position in CareDx by 17.0% during the second quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company’s stock valued at $36,989,000 after buying an additional 274,625 shares during the period.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.