CareDx’s (CDNA) Overweight Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of CareDx (NASDAQ:CDNA) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $40.00 price target on the stock.

Several other equities analysts also recently commented on the company. BTIG Research lowered their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday. HC Wainwright restated a “neutral” rating and issued a $26.00 price objective on shares of CareDx in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

CareDx Stock Performance

NASDAQ CDNA opened at $22.15 on Thursday. The company has a market capitalization of $1.19 billion, a PE ratio of -8.20 and a beta of 1.87. The business’s fifty day moving average is $22.69 and its 200 day moving average is $25.23. CareDx has a fifty-two week low of $7.42 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.05 by $1.46. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $86.58 million for the quarter, compared to the consensus estimate of $84.56 million. On average, sell-side analysts forecast that CareDx will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of CareDx in the third quarter valued at approximately $27,000. Sterling Capital Management LLC boosted its holdings in shares of CareDx by 771.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after purchasing an additional 1,126 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx in the third quarter valued at approximately $52,000. Tower Research Capital LLC TRC boosted its holdings in shares of CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after purchasing an additional 3,322 shares during the period. Finally, State of Wyoming purchased a new stake in shares of CareDx in the fourth quarter valued at approximately $91,000.

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.