CareDx, Inc. (NASDAQ:CDNA) Receives $26.00 Consensus Price Target from Brokerages

Shares of CareDx, Inc. (NASDAQ:CDNA) have received an average rating of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.00.

CDNA has been the topic of a number of recent analyst reports. William Blair assumed coverage on CareDx in a research report on Tuesday, August 26th. They set a “market perform” rating on the stock. Zacks Research raised CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Wells Fargo & Company reduced their price objective on shares of CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. Wall Street Zen raised shares of CareDx from a “sell” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, BTIG Research boosted their price target on shares of CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, November 6th.

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently modified their holdings of the business. Bamco Inc. NY raised its position in CareDx by 29.5% during the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after buying an additional 719,523 shares during the period. Invesco Ltd. grew its stake in CareDx by 76.1% during the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company’s stock valued at $47,355,000 after acquiring an additional 1,153,011 shares in the last quarter. Deerfield Management Company L.P. acquired a new position in shares of CareDx in the 3rd quarter valued at about $31,857,000. Braidwell LP purchased a new stake in shares of CareDx in the third quarter worth approximately $31,738,000. Finally, ARK Investment Management LLC boosted its holdings in shares of CareDx by 3.4% during the third quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after purchasing an additional 70,468 shares during the period.

CareDx Price Performance

Shares of CDNA opened at $17.55 on Thursday. The firm’s 50 day moving average is $15.42 and its 200-day moving average is $15.62. CareDx has a 12-month low of $10.96 and a 12-month high of $26.37. The stock has a market capitalization of $902.65 million, a P/E ratio of 17.21 and a beta of 2.50.

CareDx (NASDAQ:CDNA) last issued its earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. The firm had revenue of $100.06 million during the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) earnings per share. CareDx has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that CareDx will post -0.9 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.