The Goldman Sachs Group Boosts CareDx (NASDAQ:CDNA) Price Target to $26.00

CareDx (NASDAQ:CDNA) had its price objective boosted by The Goldman Sachs Group from $16.00 to $26.00 in a report issued on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the stock. Raymond James lowered shares of CareDx from an outperform rating to a market perform rating in a research report on Monday, May 13th. Craig Hallum boosted their target price on CareDx from $15.00 to $22.00 and gave the stock a buy rating in a research note on Friday, May 17th. Stephens increased their price target on CareDx from $15.00 to $18.00 and gave the company an overweight rating in a research report on Monday, May 13th. StockNews.com downgraded CareDx from a buy rating to a hold rating in a research note on Friday, July 5th. Finally, HC Wainwright restated a neutral rating on shares of CareDx in a research report on Thursday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, CareDx currently has an average rating of Moderate Buy and an average target price of $22.00.

CareDx Trading Down 3.0 %

CareDx stock opened at $22.88 on Thursday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -6.69 and a beta of 1.78. The firm’s fifty day moving average price is $16.00 and its two-hundred day moving average price is $12.20. CareDx has a 1-year low of $4.80 and a 1-year high of $26.50.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.18. The firm had revenue of $72.05 million during the quarter, compared to analyst estimates of $63.63 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. On average, research analysts forecast that CareDx will post -1.49 EPS for the current year.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently bought and sold shares of CDNA. Vanguard Group Inc. boosted its position in CareDx by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock valued at $45,537,000 after buying an additional 180,334 shares during the period. Bellevue Group AG lifted its position in shares of CareDx by 0.4% in the 4th quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock worth $47,458,000 after purchasing an additional 13,994 shares during the period. Gagnon Securities LLC boosted its stake in shares of CareDx by 7.1% during the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock valued at $23,780,000 after purchasing an additional 149,485 shares in the last quarter. Bamco Inc. NY purchased a new position in shares of CareDx during the first quarter valued at about $13,025,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in CareDx by 8.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,150,972 shares of the company’s stock worth $12,189,000 after buying an additional 92,363 shares in the last quarter.

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.