Brokerages Set CareDx, Inc (NASDAQ:CDNA) Price Target at $29.60

CareDx, Inc (NASDAQ:CDNA) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $29.60.

A number of research analysts have issued reports on the stock. Wells Fargo & Company started coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price on the stock. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. BTIG Research lowered their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th.

Institutional Trading of CareDx

A number of institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in CareDx during the 3rd quarter worth $27,000. GAMMA Investing LLC boosted its position in shares of CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx during the 3rd quarter valued at about $52,000. Plato Investment Management Ltd acquired a new position in CareDx during the 2nd quarter worth approximately $62,000. Finally, KBC Group NV acquired a new position in CareDx during the 3rd quarter worth approximately $99,000.

CareDx Trading Up 0.7 %

Shares of CDNA opened at $22.52 on Friday. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The stock has a market cap of $1.21 billion, a P/E ratio of -8.34 and a beta of 1.80. The company has a 50-day moving average of $26.31 and a two-hundred day moving average of $21.97.

CareDx (NASDAQ:CDNA) last posted its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The firm had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) EPS. As a group, analysts forecast that CareDx will post -0.7 EPS for the current fiscal 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.