CareDx, Inc (NASDAQ:CDNA) Receives $98.50 Average Target Price from Brokerages

CareDx, Inc (NASDAQ:CDNA) has been assigned an average recommendation of “Buy” from the seven ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $98.50.

A number of equities analysts have recently weighed in on CDNA shares. Zacks Investment Research lowered CareDx from a “hold” rating to a “strong sell” rating in a research note on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $99.00 price objective on shares of CareDx in a research note on Friday, October 29th. TheStreet lowered CareDx from a “c-” rating to a “d+” rating in a research note on Wednesday, December 8th. Finally, Raymond James dropped their price objective on CareDx from $108.00 to $90.00 and set a “strong-buy” rating for the company in a research note on Friday, October 29th.

NASDAQ:CDNA opened at $41.61 on Wednesday. The business’s 50-day simple moving average is $43.94 and its two-hundred day simple moving average is $63.08. CareDx has a 52 week low of $38.43 and a 52 week high of $99.83.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, October 28th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.21. The firm had revenue of $75.60 million during the quarter, compared to analyst estimates of $74.11 million. CareDx had a negative return on equity of 4.24% and a negative net margin of 6.54%. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. As a group, analysts predict that CareDx will post -0.46 earnings per share for the current fiscal year.

In other CareDx news, Director Peter Maag sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 5th. The stock was sold at an average price of $44.45, for a total transaction of $444,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ankur Dhingra acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, November 24th. The shares were bought at an average price of $42.34 per share, for a total transaction of $211,700.00. The disclosure for this purchase can be found here. Insiders sold 31,500 shares of company stock worth $1,422,660 over the last quarter. 4.60% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC raised its position in CareDx by 41.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 63,451 shares of the company’s stock valued at $2,886,000 after purchasing an additional 18,662 shares during the period. Balyasny Asset Management LLC grew its stake in shares of CareDx by 4.4% during the third quarter. Balyasny Asset Management LLC now owns 262,447 shares of the company’s stock valued at $16,631,000 after buying an additional 11,093 shares during the last quarter. Comerica Bank grew its stake in shares of CareDx by 269.7% during the third quarter. Comerica Bank now owns 90,752 shares of the company’s stock valued at $6,542,000 after buying an additional 66,206 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of CareDx by 6.3% during the third quarter. Bank of New York Mellon Corp now owns 346,056 shares of the company’s stock valued at $21,928,000 after buying an additional 20,494 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in shares of CareDx by 32.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 847,353 shares of the company’s stock valued at $53,697,000 after buying an additional 209,791 shares during the last quarter.

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 South San Francisco, CA.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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