CareDx (NASDAQ:CDNA) Upgraded to “Buy” at Craig Hallum

Craig Hallum upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat reports. They currently have $15.00 target price on the stock, up from their prior target price of $12.00.

Separately, Stephens reaffirmed an overweight rating and set a $15.00 price target on shares of CareDx in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $14.00.

CareDx Stock Up 18.3 %

Shares of CDNA stock opened at $9.18 on Wednesday. The stock has a market cap of $475.34 million, a price-to-earnings ratio of -2.59 and a beta of 1.42. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $12.93. The firm’s 50 day moving average price is $9.62 and its two-hundred day moving average price is $9.28.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). The business had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. CareDx had a negative net margin of 67.88% and a negative return on equity of 51.40%. The company’s quarterly revenue was down 20.4% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. On average, equities analysts forecast that CareDx will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of CareDx during the fourth quarter worth $50,000. WINTON GROUP Ltd acquired a new stake in CareDx in the third quarter valued at $72,000. Nisa Investment Advisors LLC raised its holdings in CareDx by 442.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after acquiring an additional 5,253 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 acquiring an additional 2,211 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in CareDx in the third quarter valued at $85,000.

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.