CareDx’s (CDNA) Buy Rating Reiterated at HC Wainwright

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CareDx (NASDAQ:CDNA)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Tuesday, AnalystRatings.com reports. They presently have a $43.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 82.13% from the stock’s previous close.

A number of other analysts also recently weighed in on CDNA. BidaskClub raised shares of CareDx from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine downgraded shares of CareDx from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 24th. Craig Hallum assumed coverage on shares of CareDx in a research report on Tuesday, October 1st. They set a “buy” rating and a $48.00 price objective on the stock. Piper Jaffray Companies set a $63.00 price objective on shares of CareDx and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research raised shares of CareDx from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. CareDx currently has a consensus rating of “Buy” and an average price target of $43.83.

NASDAQ:CDNA opened at $23.61 on Tuesday. The firm’s 50-day moving average price is $21.65 and its 200-day moving average price is $24.88. The company has a market capitalization of $1.00 billion, a PE ratio of -47.22 and a beta of 0.84. CareDx has a 1-year low of $18.75 and a 1-year high of $41.27.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $33.80 million for the quarter, compared to the consensus estimate of $33.14 million. CareDx had a negative net margin of 18.25% and a negative return on equity of 21.92%. CareDx’s quarterly revenue was up 59.4% compared to the same quarter last year. As a group, analysts expect that CareDx will post -0.58 EPS for the current fiscal year.

In other CareDx news, insider Sasha King sold 2,126 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $21.97, for a total transaction of $46,708.22. Following the sale, the insider now owns 48,709 shares in the company, valued at approximately $1,070,136.73. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Peter Maag sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $23.13, for a total transaction of $231,300.00. Following the sale, the chief executive officer now owns 429,814 shares in the company, valued at approximately $9,941,597.82. The disclosure for this sale can be found here. Insiders sold a total of 24,626 shares of company stock worth $543,133 in the last quarter. Company insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonebridge Capital Advisors LLC bought a new stake in CareDx during the 2nd quarter worth approximately $36,000. Meeder Asset Management Inc. raised its position in shares of CareDx by 11.3% during the third quarter. Meeder Asset Management Inc. now owns 4,277 shares of the company’s stock valued at $98,000 after buying an additional 433 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of CareDx during the second quarter valued at approximately $250,000. Steward Partners Investment Advisory LLC raised its position in shares of CareDx by 21.8% during the third quarter. Steward Partners Investment Advisory LLC now owns 7,530 shares of the company’s stock valued at $170,000 after buying an additional 1,347 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of CareDx during the third quarter valued at approximately $222,000. Institutional investors own 95.87% of the company’s stock.

About CareDx

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

Further Reading: Hedge Funds Explained

Analyst Recommendations for CareDx (NASDAQ:CDNA)

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