Stephens Reaffirms Overweight Rating for CareDx (NASDAQ:CDNA)

CareDx (NASDAQ:CDNA)‘s stock had its “overweight” rating restated by analysts at Stephens in a report released on Thursday,Benzinga reports. They currently have a $40.00 price objective on the stock. Stephens’ target price would suggest a potential upside of 80.59% from the company’s previous close.

CDNA has been the topic of a number of other reports. HC Wainwright reaffirmed a “neutral” rating and set a $26.00 price objective on shares of CareDx in a research note on Tuesday, January 14th. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. BTIG Research cut their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, CareDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

CareDx Price Performance

Shares of CDNA opened at $22.15 on Thursday. 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 P/E ratio of -8.20 and a beta of 1.87. The firm’s 50 day simple moving average is $22.66 and its 200 day simple moving average is $25.26.

CareDx (NASDAQ:CDNA) last posted 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 net margin of 45.90% and a negative return on equity of 53.70%. The company had revenue of $86.58 million during the quarter, compared to the consensus estimate of $84.56 million. On average, equities analysts anticipate that CareDx will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On CareDx

A number of large investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in CareDx in the third quarter worth about $27,000. Sterling Capital Management LLC boosted its position in shares of CareDx by 771.2% during 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 in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in CareDx in the third quarter worth $52,000. KBC Group NV bought a new position in CareDx in the third quarter worth $99,000. Finally, Tower Research Capital LLC TRC lifted its position in CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after buying an additional 3,322 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.