CareDx, Inc (NASDAQ:CDNA) Receives $14.00 Average Price Target from Brokerages

Shares of CareDx, Inc (NASDAQ:CDNA) have earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $14.00.

Several equities analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $15.00 price target on shares of CareDx in a research note on Wednesday, April 17th. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $15.00 in a research note on Wednesday.

CareDx Price Performance

Shares of CareDx stock opened at $9.72 on Wednesday. The stock has a market capitalization of $503.30 million, a price-to-earnings ratio of -2.75 and a beta of 1.51. The business has a 50-day moving average of $9.67 and a 200 day moving average of $9.31. CareDx has a 12 month low of $4.80 and a 12 month high of $12.93.

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

Institutional Investors Weigh In On CareDx

A number of hedge funds and other institutional investors have recently modified their holdings of CDNA. ARK Investment Management LLC raised its position in shares of CareDx by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock worth $86,337,000 after acquiring an additional 515,399 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of CareDx by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,138,591 shares of the company’s stock valued at $28,970,000 after buying an additional 50,667 shares in the last quarter. Bellevue Group AG raised its stake in CareDx by 0.4% during the 4th quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock worth $47,458,000 after acquiring an additional 13,994 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of CareDx by 3.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,024,503 shares of the company’s stock worth $21,172,000 after purchasing an additional 87,378 shares during the last quarter. Finally, Kent Lake Capital LLC purchased a new position in CareDx during the 3rd quarter worth approximately $9,628,000.

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.