CareDx, Inc (NASDAQ:CDNA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $31.83.

Several research analysts have recently issued reports on CDNA shares. Wells Fargo & Company raised 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. Stephens restated an “overweight” rating and set a $40.00 target price on shares of CareDx in a research report on Thursday, February 27th. HC Wainwright lowered their price target on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th.

CareDx Trading Up 1.4 %

Shares of CDNA opened at $19.16 on Wednesday. CareDx has a twelve month low of $7.42 and a twelve month high of $34.84. The firm has a market capitalization of $1.06 billion, a P/E ratio of -7.10 and a beta of 2.18. The firm’s 50-day moving average is $20.06 and its two-hundred day moving average is $22.59.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46. The business had revenue of $86.58 million for the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. Analysts predict that CareDx will post -0.9 EPS for the current year.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently modified their holdings of CDNA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in CareDx in the 3rd quarter valued at $1,671,000. Geode Capital Management LLC grew its position in shares of CareDx by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after purchasing an additional 32,141 shares during the period. Swiss National Bank increased its stake in CareDx by 1.9% in the fourth quarter. Swiss National Bank now owns 98,600 shares of the company’s stock valued at $2,111,000 after purchasing an additional 1,800 shares during the last quarter. Barclays PLC lifted its position in CareDx by 123.8% during the third quarter. Barclays PLC now owns 98,505 shares of the company’s stock worth $3,075,000 after buying an additional 54,482 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in CareDx by 59.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company’s stock worth $7,008,000 after buying an additional 122,356 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.