Brokerages Set CareDx, Inc (NASDAQ:CDNA) Target Price at $28.33

Shares of CareDx, Inc (NASDAQ:CDNA) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $31.83.

Several equities analysts have recently issued reports on CDNA shares. BTIG Research decreased their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. HC Wainwright decreased their price objective on CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday. Stephens reiterated an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a research note on Thursday, February 27th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th.

CareDx Price Performance

Shares of CareDx stock opened at $21.13 on Tuesday. The business has a 50-day moving average of $22.69 and a 200 day moving average of $25.19. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -7.83 and a beta of 1.87.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, beating 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 analysts’ expectations of $84.56 million. Equities research analysts anticipate that CareDx will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On CareDx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of CareDx during the 3rd quarter worth about $27,000. Sterling Capital Management LLC raised its position in shares of CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after acquiring an additional 1,126 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of CareDx during the 3rd quarter worth about $52,000. Tower Research Capital LLC TRC raised its position in shares of CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after acquiring an additional 3,322 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of CareDx during the 4th quarter worth about $91,000.

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.