CareDx (NASDAQ:CDNA) Upgraded at StockNews.com

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a report released on Wednesday.

Several other equities research analysts have also recently commented on the company. HC Wainwright reaffirmed a “neutral” rating and set a $26.00 target price on shares of CareDx in a research note on Tuesday, January 14th. BTIG Research decreased their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, CareDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

CareDx Price Performance

Shares of CDNA opened at $22.15 on Wednesday. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -8.20 and a beta of 1.87. The business has a 50-day moving average of $22.66 and a 200-day moving average of $25.26.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $84.56 million. As a group, sell-side analysts anticipate that CareDx will post -0.9 EPS for the current year.

Institutional Investors Weigh In On CareDx

A number of hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new stake in CareDx in the fourth quarter valued at approximately $631,000. Public Employees Retirement System of Ohio grew its stake in CareDx by 6.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 53,672 shares of the company’s stock valued at $1,149,000 after acquiring an additional 3,287 shares during the period. Castleark Management LLC grew its stake in CareDx by 41.7% in the fourth quarter. Castleark Management LLC now owns 198,180 shares of the company’s stock valued at $4,243,000 after acquiring an additional 58,300 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in CareDx by 124.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,347 shares of the company’s stock valued at $2,577,000 after acquiring an additional 66,833 shares during the period. Finally, Squarepoint Ops LLC grew its stake in CareDx by 7.7% in the fourth quarter. Squarepoint Ops LLC now owns 231,235 shares of the company’s stock valued at $4,951,000 after acquiring an additional 16,484 shares during the period.

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.