CareDx, Inc (NASDAQ:CDNA) Receives $31.83 Consensus PT from Analysts

CareDx, Inc (NASDAQ:CDNA) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $31.83.

A number of research firms have recently weighed in on CDNA. Stephens reissued an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research note on Thursday, February 27th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. HC Wainwright decreased their target price on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th.

CareDx Stock Performance

Shares of CDNA opened at $19.61 on Friday. The stock’s 50-day simple moving average is $21.69 and its 200 day simple moving average is $23.87. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.26 and a beta of 1.95.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46. The firm had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. On average, research analysts forecast that CareDx will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in CareDx during the third quarter valued at $27,000. Sterling Capital Management LLC boosted its position in CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after buying an additional 1,126 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx during the third quarter valued at $52,000. KBC Group NV bought a new position in shares of CareDx during the third quarter valued at approximately $99,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after acquiring an additional 3,322 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.