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

Shares of CareDx, Inc (NASDAQ:CDNA) have earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.50.

A number of equities analysts have commented on CDNA shares. The Goldman Sachs Group upped their price objective on shares of CareDx from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Raymond James lowered CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. Stephens boosted their target price on CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Craig Hallum increased their target price on CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 17th.

Institutional Investors Weigh In On CareDx

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of CareDx by 2.1% in the 4th quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock worth $1,083,000 after acquiring an additional 1,876 shares during the period. Principal Financial Group Inc. grew its holdings in CareDx by 14.3% in the third quarter. Principal Financial Group Inc. now owns 17,635 shares of the company’s stock valued at $123,000 after purchasing an additional 2,205 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in CareDx by 23.2% in 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 last quarter. Price T Rowe Associates Inc. MD increased its position in shares of CareDx by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock valued at $312,000 after buying an additional 2,344 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of CareDx by 2.3% during the 3rd quarter. Swiss National Bank now owns 118,200 shares of the company’s stock worth $827,000 after buying an additional 2,700 shares during the last quarter.

CareDx Stock Up 0.7 %

NASDAQ CDNA opened at $15.94 on Friday. The firm has a market cap of $830.16 million, a P/E ratio of -4.66 and a beta of 1.51. CareDx has a 52-week low of $4.80 and a 52-week high of $17.03. The business’s 50-day moving average price is $10.62 and its 200 day moving average price is $10.20.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.97). CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. The company had revenue of $65.57 million during the quarter, compared to analysts’ expectations of $63.66 million. During the same quarter last year, the business posted ($0.34) earnings per share. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. As a group, analysts anticipate that CareDx will post -1.59 earnings per share for the current year.

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.