CareDx (NASDAQ:CDNA) Price Target Raised to $32.00

CareDx (NASDAQ:CDNA) had its price target increased by Craig Hallum from $22.00 to $32.00 in a report published on Thursday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Stephens raised their target price on shares of CareDx from $15.00 to $18.00 and gave the company an overweight rating in a research note on Monday, May 13th. Raymond James cut shares of CareDx from an outperform rating to a market perform rating in a research note on Monday, May 13th. StockNews.com downgraded CareDx from a buy rating to a hold rating in a report on Friday, July 5th. HC Wainwright reaffirmed a neutral rating on shares of CareDx in a report on Thursday. Finally, The Goldman Sachs Group raised their price target on CareDx from $16.00 to $26.00 and gave the company a buy rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, CareDx presently has an average rating of Moderate Buy and a consensus price target of $22.00.

CareDx Trading Down 3.0 %

NASDAQ:CDNA opened at $22.88 on Thursday. CareDx has a 1-year low of $4.80 and a 1-year high of $26.50. The firm has a fifty day simple moving average of $16.00 and a 200 day simple moving average of $12.22. The stock has a market capitalization of $1.21 billion, a PE ratio of -6.69 and a beta of 1.78.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, May 9th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.18. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The business had revenue of $72.05 million during the quarter, compared to analysts’ expectations of $63.63 million. On average, equities analysts predict that CareDx will post -1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareDx

A number of hedge funds and other institutional investors have recently modified their holdings of CDNA. GAMMA Investing LLC lifted its holdings in shares of CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of CareDx during the fourth quarter worth $50,000. Nisa Investment Advisors LLC lifted its holdings in shares of CareDx by 442.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock worth $77,000 after buying an additional 5,253 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of CareDx during the fourth quarter worth $117,000. Finally, Cetera Trust Company N.A acquired a new stake in shares of CareDx during the fourth quarter worth $142,000.

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.