CareDx (NASDAQ:CDNA) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of CareDx (NASDAQ:CDNA – Free Report) from a hold rating to a buy rating in a research note published on Sunday.

Other analysts also recently issued research reports about the company. BTIG Research lifted their price target on CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. William Blair began coverage on CareDx in a research report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Zacks Research raised CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Wells Fargo & Company lifted their price objective on shares of CareDx from $14.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CareDx in a research report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, CareDx presently has an average rating of “Hold” and a consensus target price of $26.67.

View Our Latest Analysis on CDNA

CareDx Stock Performance

Shares of CDNA stock opened at $20.02 on Friday. CareDx has a 52 week low of $10.96 and a 52 week high of $25.95. The company’s 50 day moving average price is $16.92 and its two-hundred day moving average price is $15.82. The company has a market capitalization of $1.03 billion, a P/E ratio of 16.82 and a beta of 2.54.

CareDx (NASDAQ:CDNA – Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.15. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The company had revenue of $100.06 million during the quarter, compared to the consensus estimate of $95.25 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year. Analysts forecast that CareDx will post -0.9 earnings per share for the current year.

Institutional Trading of CareDx

A number of large investors have recently added to or reduced their stakes in CDNA. FNY Investment Advisers LLC acquired a new position in shares of CareDx during the 3rd quarter worth about $31,000. Virtus Advisers LLC grew its holdings in CareDx by 843.6% during the third quarter. Virtus Advisers LLC now owns 40,564 shares of the company’s stock worth $590,000 after purchasing an additional 36,265 shares during the period. Verition Fund Management LLC increased its position in CareDx by 214.6% during the third quarter. Verition Fund Management LLC now owns 130,893 shares of the company’s stock worth $1,903,000 after buying an additional 89,284 shares during the last quarter. Palo Alto Investors LP bought a new stake in CareDx in the third quarter valued at approximately $4,598,000. Finally, Millennium Management LLC lifted its position in shares of CareDx by 504.0% in the third quarter. Millennium Management LLC now owns 413,689 shares of the company’s stock valued at $6,015,000 after buying an additional 345,197 shares during the last quarter.

About CareDx

(Get Free Report)

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.

See Also