Analysts Set CareDx, Inc (NASDAQ:CDNA) PT at $16.50

CareDx, Inc (NASDAQ:CDNA) has earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $16.50.

CDNA has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on CareDx from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Craig Hallum upped their price target on CareDx from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Stephens upped their price target on CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Raymond James lowered CareDx from an “outperform” rating to a “market perform” rating in a research report on Monday, May 13th. Finally, StockNews.com downgraded CareDx from a “buy” rating to a “hold” rating in a research note on Wednesday.

Institutional Trading of CareDx

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of CareDx by 2.1% in the fourth quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock valued at $1,083,000 after acquiring an additional 1,876 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of CareDx by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock valued at $312,000 after acquiring an additional 2,344 shares in the last quarter. Swiss National Bank grew its holdings in CareDx by 2.3% during the third quarter. Swiss National Bank now owns 118,200 shares of the company’s stock valued at $827,000 after purchasing an additional 2,700 shares during the period. Headlands Technologies LLC bought a new position in CareDx during the fourth quarter valued at $50,000. Finally, Bullseye Asset Management LLC grew its holdings in CareDx by 2.9% during the fourth quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock valued at $2,098,000 after purchasing an additional 5,000 shares during the period.

CareDx Trading Up 0.6 %

NASDAQ:CDNA opened at $14.06 on Thursday. The stock has a market cap of $732.24 million, a P/E ratio of -4.11 and a beta of 1.77. The stock has a 50 day simple moving average of $12.45 and a 200 day simple moving average of $10.96. CareDx has a 1-year low of $4.80 and a 1-year high of $17.03.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.18. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. The company had revenue of $72.05 million for the quarter, compared to analyst estimates of $63.63 million. As a group, sell-side analysts forecast that CareDx will post -1.49 EPS for the current year.

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.