CareDx, Inc (NASDAQ:CDNA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

CareDx, Inc (NASDAQ:CDNA) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

CDNA has been the subject of several research reports. Stephens reiterated an “overweight” rating and set a $15.00 price target on shares of CareDx in a report on Wednesday, April 17th. Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and lifted their target price for the company from $12.00 to $15.00 in a research note on Wednesday, May 1st.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CDNA. Headlands Technologies LLC acquired a new position in CareDx during the fourth quarter valued at approximately $50,000. WINTON GROUP Ltd acquired a new position in CareDx in the 3rd quarter valued at $72,000. Nisa Investment Advisors LLC grew its stake in CareDx by 442.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after buying an additional 5,253 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CareDx by 23.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,751 shares of the company’s stock worth $82,000 after acquiring an additional 2,211 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new position in CareDx during the 3rd quarter worth $85,000.

CareDx Stock Up 4.9 %

Shares of NASDAQ:CDNA opened at $9.72 on Wednesday. The firm has a fifty day moving average of $9.67 and a two-hundred day moving average of $9.36. CareDx has a 12-month low of $4.80 and a 12-month high of $12.93. The firm has a market capitalization of $503.30 million, a P/E ratio of -2.75 and a beta of 1.51.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.97). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The firm had revenue of $65.57 million for the quarter, compared to analysts’ expectations of $63.66 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. CareDx’s revenue was down 20.4% on a year-over-year basis. Equities research analysts expect that CareDx will post -1.59 earnings per share 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.