Analysts Set CareDx, Inc (NASDAQ:CDNA) PT at $14.00

Shares of CareDx, Inc (NASDAQ:CDNA) have earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.00.

A number of brokerages have weighed in on CDNA. Stephens reissued an “overweight” rating and issued a $15.00 target price on shares of CareDx in a research report on Wednesday, April 17th. Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and increased their price objective for the company from $12.00 to $15.00 in a research report on Wednesday, May 1st.

CareDx Stock Performance

Shares of CareDx stock opened at $10.48 on Wednesday. The company has a 50-day simple moving average of $9.72 and a two-hundred day simple moving average of $9.43. CareDx has a 52-week low of $4.80 and a 52-week high of $12.93. The stock has a market capitalization of $542.65 million, a PE ratio of -2.96 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 for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). The firm had revenue of $65.57 million during the quarter, compared to analysts’ expectations of $63.66 million. CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. CareDx’s revenue was down 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. As a group, equities research analysts forecast that CareDx will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On CareDx

A number of large investors have recently made changes to their positions in CDNA. Headlands Technologies LLC bought a new stake in CareDx during the fourth quarter valued at approximately $50,000. Nisa Investment Advisors LLC increased its stake in shares of CareDx by 442.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock worth $77,000 after purchasing an additional 5,253 shares in the last quarter. Quest Partners LLC bought a new position in CareDx in the 4th quarter worth $117,000. WINTON GROUP Ltd purchased a new position in CareDx during the third quarter valued at $72,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in CareDx by 23.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,751 shares of the company’s stock valued at $82,000 after purchasing an additional 2,211 shares during the period.

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.