CareDx, Inc (NASDAQ:CDNA) Given Consensus Rating of “Moderate Buy” by Analysts

CareDx, Inc (NASDAQ:CDNA) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $30.33.

A number of analysts have commented on the company. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. HC Wainwright reduced their price target on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of CareDx in a report on Thursday, February 27th. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their price objective on shares of CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, April 17th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock valued at $104,047,000 after acquiring an additional 323,554 shares during the last quarter. Bamco Inc. NY lifted its holdings in CareDx by 17.6% during the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock valued at $47,258,000 after buying an additional 330,627 shares in the last quarter. Fred Alger Management LLC boosted its position in CareDx by 7.3% in the 4th quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company’s stock valued at $34,556,000 after buying an additional 110,471 shares during the period. Invesco Ltd. grew its stake in CareDx by 3.5% in the 4th quarter. Invesco Ltd. now owns 1,514,850 shares of the company’s stock worth $32,433,000 after acquiring an additional 51,160 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of CareDx by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company’s stock worth $30,663,000 after acquiring an additional 196,298 shares during the period.

CareDx Stock Performance

CDNA opened at $17.77 on Wednesday. The stock’s 50 day moving average price is $19.45 and its 200-day moving average price is $22.13. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The stock has a market capitalization of $984.92 million, a PE ratio of -6.58 and a beta of 2.18.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.05 by $1.46. The company had revenue of $86.58 million for the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. 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.