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

Shares of CareDx, Inc (NASDAQ:CDNA) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $31.83.

Several research analysts recently commented on the company. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. HC Wainwright reduced their price objective on CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday. Stephens reissued an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a research note on Thursday, February 27th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, BTIG Research reduced their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

CareDx Price Performance

Shares of NASDAQ:CDNA opened at $21.13 on Tuesday. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -7.83 and a beta of 1.87. The business’s 50 day moving average price is $22.69 and its 200-day moving average price is $25.19.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. On average, sell-side analysts expect that CareDx will post -0.9 earnings per share for the current year.

Institutional Trading of CareDx

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new position in CareDx in the third quarter valued at approximately $27,000. Thompson Davis & CO. Inc. lifted its stake in shares of CareDx by 6.3% in the 4th quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company’s stock valued at $344,000 after purchasing an additional 950 shares during the last quarter. Royce & Associates LP increased its position in shares of CareDx by 0.3% during the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after purchasing an additional 1,000 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of CareDx by 6.9% during the 4th quarter. Hsbc Holdings PLC now owns 17,131 shares of the company’s stock worth $365,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of CareDx by 1.3% during the 4th quarter. Legal & General Group Plc now owns 89,751 shares of the company’s stock worth $1,922,000 after purchasing an additional 1,118 shares during the last quarter.

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.