CareDx, Inc (NASDAQ:CDNA) Receives $31.83 Average Target Price from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $31.83.

CDNA has been the topic of several research analyst reports. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. HC Wainwright reduced their price objective on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a report on Thursday, February 27th.

CareDx Trading Down 4.5 %

Shares of CDNA opened at $18.23 on Friday. The company’s fifty day simple moving average is $21.54 and its 200 day simple moving average is $23.78. CareDx has a 1-year low of $7.42 and a 1-year high of $34.84. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -6.75 and a beta of 1.95.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP bought a new position in shares of CareDx during the fourth quarter worth approximately $15,239,000. FMR LLC lifted its position in shares of CareDx by 802.4% during the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after buying an additional 556,230 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in CareDx by 52.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company’s stock valued at $26,625,000 after buying an additional 428,864 shares in the last quarter. Fred Alger Management LLC grew its position in CareDx by 30.8% in the third quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company’s stock valued at $46,947,000 after acquiring an additional 353,919 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in CareDx in the third quarter valued at about $10,873,000.

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.