Analysts Set CareDx, Inc (NASDAQ:CDNA) PT at $31.83

Shares of CareDx, Inc (NASDAQ:CDNA) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $30.33.

CDNA has been the topic of a number of research analyst reports. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. HC Wainwright reduced their target price on CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. The Goldman Sachs Group cut their price objective on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Stephens reiterated an “overweight” rating and set a $40.00 target price on shares of CareDx in a report on Thursday, February 27th.

Institutional Investors Weigh In On CareDx

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

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $17.62 on Wednesday. The firm has a market cap of $976.61 million, a P/E ratio of -6.53 and a beta of 2.18. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The firm’s 50 day moving average price is $19.73 and its 200 day moving average price is $22.26.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data 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. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. As a group, equities analysts predict that CareDx will post -0.9 EPS for the current 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.