CareDx, Inc (NASDAQ:CDNA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $32.00.

CDNA has been the topic of a number of recent research reports. BTIG Research lowered their target price on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Stephens reiterated an “overweight” rating and set a $40.00 target price on shares of CareDx in a research note on Thursday. HC Wainwright reiterated a “neutral” rating and set a $26.00 target price on shares of CareDx in a research note on Tuesday, January 14th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th.

CareDx Stock Up 5.2 %

NASDAQ:CDNA opened at $22.15 on Tuesday. The stock’s 50 day moving average price is $22.69 and its two-hundred day moving average price is $25.23. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -8.20 and a beta of 1.87. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84.

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

Hedge Funds Weigh In On CareDx

A number of hedge funds have recently added to or reduced their stakes in CDNA. Divisadero Street Capital Management LP bought a new position in CareDx during the 4th quarter worth $15,239,000. FMR LLC boosted its holdings in shares of CareDx by 802.4% in the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock valued at $19,533,000 after purchasing an additional 556,230 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of CareDx by 52.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company’s stock valued at $26,625,000 after purchasing an additional 428,864 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of CareDx by 30.8% in the 3rd quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company’s stock valued at $46,947,000 after purchasing an additional 353,919 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of CareDx in the 3rd quarter valued at $10,873,000.

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.