CareDx (NASDAQ:CDNA) Price Target Raised to $45.00 at BTIG Research

CareDx (NASDAQ:CDNA) had its target price boosted by BTIG Research from $28.00 to $45.00 in a research note issued to investors on Thursday morning, MarketBeat.com reports. BTIG Research currently has a buy rating on the stock.

CDNA has been the subject of several other reports. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Craig Hallum reiterated a “hold” rating and set a $35.00 price target on shares of CareDx in a report on Thursday. Finally, Weiss Ratings raised shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.67.

CareDx Trading Up 35.6%

NASDAQ:CDNA opened at $40.34 on Thursday. The stock has a market cap of $2.08 billion, a P/E ratio of -252.13 and a beta of 2.43. The stock’s 50-day moving average is $24.85 and its 200-day moving average is $21.14. CareDx has a 1-year low of $10.96 and a 1-year high of $40.38.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The company had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm’s revenue was up 39.3% compared to the same quarter last year. As a group, equities analysts forecast that CareDx will post 0.22 EPS for the current year.

Insider Activity at CareDx

In other news, Director Hannah Valantine sold 12,103 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the sale, the director directly owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. This represents a 24.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the sale, the chief executive officer directly owned 661,959 shares in the company, valued at approximately $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 78,936 shares of company stock worth $2,093,708 over the last quarter. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

Several hedge funds and other institutional investors have recently bought and sold shares of CDNA. State Street Corp raised its holdings in shares of CareDx by 6.7% during the fourth quarter. State Street Corp now owns 2,737,752 shares of the company’s stock valued at $51,579,000 after purchasing an additional 171,303 shares during the period. Bamco Inc. NY increased its position in CareDx by 11.2% in the 2nd quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock valued at $47,593,000 after buying an additional 245,651 shares in the last quarter. Deerfield Management Company L.P. bought a new stake in CareDx in the 3rd quarter valued at about $31,857,000. Gagnon Securities LLC raised its stake in CareDx by 2.6% during the 4th quarter. Gagnon Securities LLC now owns 1,774,890 shares of the company’s stock worth $33,439,000 after buying an additional 45,465 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in CareDx by 2.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company’s stock worth $25,608,000 after buying an additional 28,510 shares during the period.

CareDx Company Profile

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.