CareDx (NASDAQ:CDNA) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research report released on Tuesday morning.

Several other equities analysts also recently weighed in on the company. Raymond James downgraded CareDx from an outperform rating to a market perform rating in a research report on Monday, May 13th. HC Wainwright restated a neutral rating on shares of CareDx in a research report on Wednesday, May 15th. The Goldman Sachs Group raised their target price on CareDx from $10.00 to $14.00 and gave the company a buy rating in a research report on Monday, May 13th. Craig Hallum raised their target price on CareDx from $15.00 to $22.00 and gave the company a buy rating in a research report on Friday, May 17th. Finally, Stephens raised their target price on CareDx from $15.00 to $18.00 and gave the company an overweight rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CareDx has a consensus rating of Moderate Buy and a consensus price target of $16.50.

CareDx Stock Up 0.7 %

CareDx stock opened at $15.94 on Tuesday. The firm has a market cap of $830.16 million, a price-to-earnings ratio of -4.66 and a beta of 1.51. CareDx has a 52 week low of $4.80 and a 52 week high of $17.03. The business’s 50-day moving average price is $10.50 and its 200 day moving average price is $10.13.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, February 28th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.97). The company had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. The firm’s revenue was down 20.4% on a year-over-year basis. During the same period last year, the business earned ($0.34) earnings per share. Equities analysts expect that CareDx will post -1.59 EPS for the current year.

Institutional Investors Weigh In On CareDx

A number of institutional investors have recently modified their holdings of CDNA. Citigroup Inc. grew its stake in CareDx by 7.1% during the 3rd quarter. Citigroup Inc. now owns 132,560 shares of the company’s stock worth $928,000 after purchasing an additional 8,768 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in CareDx by 138.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 237,115 shares of the company’s stock worth $2,845,000 after purchasing an additional 137,842 shares in the last quarter. ARK Investment Management LLC grew its stake in CareDx by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock worth $86,337,000 after purchasing an additional 515,399 shares in the last quarter. First Eagle Investment Management LLC grew its stake in CareDx by 38.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,005,189 shares of the company’s stock worth $7,036,000 after purchasing an additional 280,345 shares in the last quarter. Finally, Swiss National Bank grew its stake in CareDx by 2.3% during the 3rd quarter. Swiss National Bank now owns 118,200 shares of the company’s stock worth $827,000 after purchasing an additional 2,700 shares in 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.