CareDx (NASDAQ:CDNA)‘s stock had its “buy” rating restated by Piper Sandler in a report issued on Monday, TipRanks reports. They presently have a $54.00 target price on the stock. Piper Sandler’s price objective suggests a potential upside of 52.41% from the company’s current price.
CDNA has been the topic of several other reports. Zacks Investment Research cut shares of CareDx from a “hold” rating to a “sell” rating in a research note on Tuesday, June 23rd. Raymond James reiterated a “buy” rating and issued a $40.00 target price on shares of CareDx in a research note on Friday, June 19th. BidaskClub upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 24th. HC Wainwright reiterated a “buy” rating and issued a $37.00 target price (down from $40.00) on shares of CareDx in a research note on Friday, June 19th. Finally, ValuEngine cut shares of CareDx from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $43.14.
Shares of CDNA stock opened at $35.43 on Monday. The stock has a market capitalization of $1.53 billion, a P/E ratio of -73.81 and a beta of 0.98. The company has a current ratio of 2.33, a quick ratio of 2.09 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $31.62 and its 200 day moving average is $25.01. CareDx has a 12 month low of $13.04 and a 12 month high of $41.27.
CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, April 30th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). CareDx had a negative return on equity of 20.72% and a negative net margin of 14.53%. The firm had revenue of $38.40 million during the quarter, compared to analysts’ expectations of $38.26 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s revenue for the quarter was up 47.8% compared to the same quarter last year. On average, equities analysts predict that CareDx will post -0.52 EPS for the current year.
In related news, CFO Michael Brian Bell sold 57,136 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $29.00, for a total transaction of $1,656,944.00. Following the transaction, the chief financial officer now owns 107,580 shares of the company’s stock, valued at approximately $3,119,820. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Peter Maag sold 1,818 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $35.00, for a total transaction of $63,630.00. Following the transaction, the chief executive officer now directly owns 389,499 shares in the company, valued at approximately $13,632,465. The disclosure for this sale can be found here. Insiders sold a total of 189,356 shares of company stock worth $5,892,980 in the last three months. Insiders own 3.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its holdings in CareDx by 754.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,735 shares of the company’s stock worth $37,000 after acquiring an additional 1,532 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in CareDx by 267.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,836 shares of the company’s stock worth $41,000 after acquiring an additional 1,336 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in CareDx in the 4th quarter worth $53,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in CareDx by 58.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,817 shares of the company’s stock worth $61,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new stake in CareDx in the 1st quarter worth $73,000.
CareDx Company Profile
CareDx, Inc, a precision medicine company, discovers, develops, and commercializes healthcare solutions for transplant patients and caregivers worldwide. It offers AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; and AlloMap Heart, a gene expression solution for heart transplant patients.
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