Brokerages Set CareDx, Inc (NASDAQ:CDNA) Price Target at $29.60

CareDx, Inc (NASDAQ:CDNA) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $29.60.

A number of equities research analysts recently commented on CDNA shares. The Goldman Sachs Group raised their price objective on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. BTIG Research decreased their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company began coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price for the company. Finally, StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th.

CareDx Stock Up 2.4 %

Shares of NASDAQ:CDNA opened at $23.13 on Friday. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The company’s fifty day simple moving average is $26.05 and its 200 day simple moving average is $22.06. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -8.57 and a beta of 1.80.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. During the same period last year, the business posted ($0.43) earnings per share. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. Research analysts expect that CareDx will post -0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of CareDx in the 3rd quarter valued at about $27,000. Royce & Associates LP lifted its stake in shares of CareDx by 0.3% during the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after buying an additional 1,000 shares during the last quarter. Quest Partners LLC lifted its stake in shares of CareDx by 37.8% during the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after buying an additional 1,540 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of CareDx during the 3rd quarter worth about $52,000. Finally, ClariVest Asset Management LLC lifted its stake in shares of CareDx by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock worth $994,000 after buying an additional 1,810 shares during the last quarter.

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.