Analysts Set CareDx, Inc (NASDAQ:CDNA) Target Price at $28.33

Shares of CareDx, Inc (NASDAQ:CDNA) have received an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $32.00.

A number of brokerages recently issued reports on CDNA. HC Wainwright restated a “neutral” rating and issued a $26.00 price objective on shares of CareDx in a research note on Tuesday, January 14th. Stephens restated an “overweight” rating and set a $40.00 target price on shares of CareDx in a research report on Thursday. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, BTIG Research lowered their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

Hedge Funds Weigh In On CareDx

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of CareDx during the third quarter valued at approximately $27,000. Sterling Capital Management LLC grew its stake in shares of CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after buying an additional 1,126 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of CareDx during the third quarter valued at $52,000. Tower Research Capital LLC TRC raised its holdings in CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after buying an additional 3,322 shares during the last quarter. Finally, State of Wyoming bought a new position in CareDx in the 4th quarter valued at approximately $91,000.

CareDx Price Performance

Shares of CareDx stock opened at $21.06 on Tuesday. The firm has a market cap of $1.13 billion, a PE ratio of -7.80 and a beta of 1.87. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The stock has a fifty day moving average price of $22.65 and a 200-day moving average price of $25.29.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $1.46. The firm had revenue of $86.58 million during the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. As a group, equities analysts anticipate that CareDx will post -0.9 EPS for the current fiscal 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.