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

Shares of CareDx, Inc (NASDAQ:CDNA) have received an average recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $29.60.

Several research firms have recently issued reports on CDNA. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Craig Hallum raised their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research dropped their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd.

CareDx Stock Up 2.3 %

NASDAQ:CDNA opened at $22.06 on Friday. CareDx has a twelve month low of $7.42 and a twelve month high of $34.84. The stock has a market cap of $1.18 billion, a P/E ratio of -8.17 and a beta of 1.80. The firm’s fifty day simple moving average is $26.56 and its 200 day simple moving average is $21.88.

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

Institutional Investors Weigh In On CareDx

Several hedge funds and other institutional investors have recently modified their holdings of CDNA. Quarry LP purchased a new stake in CareDx in the third quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new stake in CareDx in the 3rd quarter worth approximately $52,000. GAMMA Investing LLC raised its stake in CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after acquiring an additional 2,013 shares during the period. KBC Group NV purchased a new position in CareDx during the third quarter valued at approximately $99,000. Finally, nVerses Capital LLC lifted its stake in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after buying an additional 2,100 shares in the last quarter.

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.