Brokerages Set CareDx, Inc (NASDAQ:CDNA) Price Target at $31.83

Shares of CareDx, Inc (NASDAQ:CDNA) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.83.

CDNA has been the subject of several recent analyst reports. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. HC Wainwright lowered their price objective on CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Stephens restated an “overweight” rating and set a $40.00 target price on shares of CareDx in a research report on Thursday, February 27th. 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 report on Wednesday, January 15th.

CareDx Stock Down 4.5 %

Shares of NASDAQ:CDNA opened at $18.23 on Friday. The firm has a market cap of $1.01 billion, a P/E ratio of -6.75 and a beta of 1.95. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The business has a fifty day simple moving average of $21.54 and a 200 day simple moving average of $23.78.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, topping 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 company had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. As a group, equities research analysts expect that CareDx will post -0.9 EPS for the current year.

Institutional Trading of CareDx

Several large investors have recently made changes to their positions in CDNA. Quarry LP bought a new position in CareDx in the third quarter worth approximately $27,000. Sterling Capital Management LLC grew 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 purchasing an additional 1,126 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in CareDx during the 3rd quarter valued at $52,000. Tower Research Capital LLC TRC raised its holdings in CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after buying an additional 3,322 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of CareDx in the fourth quarter valued at $91,000.

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.