CareDx, Inc. (NASDAQ:CDNA) Stock Has Consensus Target Price of $51.20 According to Brokerages

by · The Cerbat Gem

CareDx, Inc. (NASDAQ:CDNA – Get Free Report) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $54.00.

Several analysts have recently weighed in on the stock. HC Wainwright reiterated a “neutral” rating and set a $46.00 target price on shares of CareDx in a research report on Friday, July 31st. BTIG Research raised their price target on shares of CareDx from $60.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group started coverage on shares of CareDx in a research note on Wednesday, September 2nd. They set a “buy” rating and a $65.00 price target for the company. William Blair raised CareDx to a “hold” rating in a report on Thursday, July 16th. Finally, Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th.

Check Out Our Latest Stock Analysis on CDNA

CareDx Price Performance

Shares of CDNA stock opened at $63.68 on Wednesday. CareDx has a one year low of $13.95 and a one year high of $65.19. The stock has a fifty day moving average price of $47.78 and a 200 day moving average price of $31.15. The stock has a market cap of $3.29 billion, a P/E ratio of 30.76 and a beta of 2.43.

CareDx (NASDAQ:CDNA – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The firm had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The business’s revenue for the quarter was up 52.2% on a year-over-year basis. Equities research analysts anticipate that CareDx will post 0.47 EPS for the current year.

Insider Buying and Selling

In related news, Director George Bickerstaff, III sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total transaction of $925,600.00. Following the completion of the transaction, the director owned 134,061 shares in the company, valued at $6,204,343.08. This trade represents a 12.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Walter Jr sold 39,900 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the sale, the chief executive officer directly owned 661,959 shares in the company, valued at approximately $19,355,681.16. This represents a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,900 shares of company stock worth $2,843,316 in the last 90 days. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nykredit A S acquired a new stake in shares of CareDx during the 2nd quarter worth about $25,000. Integrated Wealth Concepts LLC acquired a new position in CareDx in the second quarter valued at about $29,000. Allworth Financial LP acquired a new position in CareDx in the second quarter valued at about $72,000. State of Wyoming bought a new stake in CareDx during the second quarter worth about $227,000. Finally, Meeder Asset Management Inc. grew its stake in CareDx by 92.3% during the first quarter. Meeder Asset Management Inc. now owns 8,067 shares of the company’s stock worth $140,000 after buying an additional 3,871 shares during the last quarter.

About CareDx

(Get Free Report)

CareDx, Inc is a precision medicine company focused on improving outcomes for transplant patients. The company develops and commercializes diagnostic tests, monitoring solutions and digital health services designed to help clinicians assess organ health, identify potential rejection and support the long-term management of transplant recipients.

Its portfolio includes AlloMap, a gene-expression blood test used in heart-transplant monitoring, and AlloSure, a donor-derived cell-free DNA test used to assess kidney-transplant health.

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