CareDx (NASDAQ:CDNA) Announces Earnings Results, Beats Expectations By $1.46 EPS

CareDx (NASDAQ:CDNA) issued its quarterly earnings data on Wednesday. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46, Zacks reports. 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 during the quarter, compared to the consensus estimate of $84.56 million.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $22.00 on Thursday. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The stock has a market capitalization of $1.18 billion, a P/E ratio of -8.14 and a beta of 1.87. The company has a 50-day moving average price of $22.64 and a 200-day moving average price of $25.32.

Analysts Set New Price Targets

Several research analysts have issued reports on CDNA shares. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. BTIG Research lowered their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $26.00 target price on shares of CareDx in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

About CareDx

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.