CareDx Inc (NASDAQ:CDNA) Receives $47.40 Consensus Target Price from Brokerages

CareDx Inc (NASDAQ:CDNA) has been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $43.83.

A number of research analysts have recently weighed in on CDNA shares. Craig Hallum started coverage on shares of CareDx in a research note on Tuesday, October 1st. They set a “buy” rating and a $48.00 price objective for the company. Zacks Investment Research raised shares of CareDx from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Thursday. Piper Jaffray Companies set a $63.00 price objective on shares of CareDx and gave the stock a “buy” rating in a research note on Friday, November 1st. ValuEngine cut shares of CareDx from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, BidaskClub raised shares of CareDx from a “sell” rating to a “hold” rating in a research note on Friday.

Shares of CDNA traded up $0.10 during mid-day trading on Friday, reaching $23.61. 733,382 shares of the company’s stock were exchanged, compared to its average volume of 652,535. The company has a 50-day simple moving average of $21.46 and a two-hundred day simple moving average of $25.06. CareDx has a 52-week low of $18.75 and a 52-week high of $41.27. The company has a market cap of $997.67 million, a price-to-earnings ratio of -47.22 and a beta of 0.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. CareDx had a negative net margin of 18.25% and a negative return on equity of 21.92%. The business had revenue of $33.80 million during the quarter, compared to analysts’ expectations of $33.14 million. The firm’s revenue for the quarter was up 59.4% on a year-over-year basis. On average, equities research analysts predict that CareDx will post -0.58 EPS for the current fiscal year.

In other CareDx news, CEO Peter Maag sold 10,000 shares of CareDx stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.13, for a total value of $231,300.00. Following the completion of the sale, the chief executive officer now directly owns 429,814 shares of the company’s stock, valued at approximately $9,941,597.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William A. Hagstrom sold 12,500 shares of CareDx stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $21.21, for a total transaction of $265,125.00. Insiders sold a total of 24,626 shares of company stock valued at $543,133 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its stake in CareDx by 11.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,277 shares of the company’s stock worth $98,000 after acquiring an additional 433 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of CareDx by 0.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 50,257 shares of the company’s stock valued at $1,809,000 after purchasing an additional 456 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of CareDx by 1.1% in the 3rd quarter. Rhumbline Advisers now owns 54,776 shares of the company’s stock valued at $1,238,000 after purchasing an additional 584 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of CareDx by 1.6% in the 3rd quarter. California State Teachers Retirement System now owns 64,313 shares of the company’s stock valued at $1,454,000 after purchasing an additional 997 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of CareDx in the 2nd quarter valued at $36,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

About CareDx

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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