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

CareDx (NASDAQ:CDNA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other equities analysts have also recently commented on the stock. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. HC Wainwright reaffirmed a “neutral” rating and set a $26.00 price objective on shares of CareDx in a report on Tuesday, January 14th. Finally, BTIG Research lowered their price target 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, CareDx presently has an average rating of “Moderate Buy” and an average price target of $32.00.

CareDx Trading Down 0.2 %

CareDx stock opened at $21.06 on Wednesday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -7.80 and a beta of 1.87. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The stock’s 50 day moving average is $22.65 and its 200-day moving average is $25.29.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $1.46. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $86.58 million during the quarter, compared to the consensus estimate of $84.56 million. As a group, equities research analysts predict that CareDx will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareDx

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new position in shares of CareDx during the 4th quarter worth $631,000. Public Employees Retirement System of Ohio boosted its position in CareDx by 6.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 53,672 shares of the company’s stock valued at $1,149,000 after buying an additional 3,287 shares during the period. Castleark Management LLC lifted its position in shares of CareDx by 41.7% in the 4th quarter. Castleark Management LLC now owns 198,180 shares of the company’s stock worth $4,243,000 after purchasing an additional 58,300 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of CareDx by 124.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,347 shares of the company’s stock worth $2,577,000 after purchasing an additional 66,833 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of CareDx by 7.7% in the 4th quarter. Squarepoint Ops LLC now owns 231,235 shares of the company’s stock worth $4,951,000 after purchasing an additional 16,484 shares during the period.

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.