StockNews.com Upgrades CareDx (NASDAQ:CDNA) to “Buy”

CareDx (NASDAQ:CDNA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other equities research analysts have also recently weighed in on CDNA. Craig Hallum boosted their price target on shares of CareDx from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Raymond James cut CareDx from an “outperform” rating to a “market perform” rating in a research report on Monday, May 13th. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Friday, May 31st. Stephens increased their price objective on CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, The Goldman Sachs Group lifted their target price on shares of CareDx from $10.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.50.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $14.01 on Thursday. The stock’s 50-day moving average is $12.82 and its two-hundred day moving average is $11.06. The company has a market cap of $729.70 million, a price-to-earnings ratio of -4.10 and a beta of 1.77. CareDx has a 1-year low of $4.80 and a 1-year high of $17.03.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, May 9th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.18. The firm had revenue of $72.05 million during the quarter, compared to analysts’ expectations of $63.63 million. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. Equities research analysts anticipate that CareDx will post -1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareDx

Several large investors have recently modified their holdings of CDNA. Swiss National Bank lifted its stake in shares of CareDx by 2.3% in the 3rd quarter. Swiss National Bank now owns 118,200 shares of the company’s stock worth $827,000 after acquiring an additional 2,700 shares during the period. Citigroup Inc. increased its position in CareDx by 7.1% during the 3rd quarter. Citigroup Inc. now owns 132,560 shares of the company’s stock worth $928,000 after purchasing an additional 8,768 shares during the period. Dark Forest Capital Management LP acquired a new position in CareDx during the 3rd quarter worth approximately $152,000. Sherbrooke Park Advisers LLC purchased a new position in CareDx in the third quarter worth $85,000. Finally, Caxton Associates LP grew its stake in shares of CareDx by 76.1% during the 3rd quarter. Caxton Associates LP now owns 48,839 shares of the company’s stock worth $342,000 after purchasing an additional 21,105 shares during the period.

About CareDx

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.