CareDx (NASDAQ:CDNA) Price Target Raised to $32.00 at Craig Hallum

CareDx (NASDAQ:CDNA) had its price target hoisted by Craig Hallum from $22.00 to $32.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the stock.

CDNA has been the topic of several other reports. The Goldman Sachs Group lifted their price target on shares of CareDx from $16.00 to $26.00 and gave the stock a buy rating in a research note on Thursday. Raymond James cut shares of CareDx from an outperform rating to a market perform rating in a research report on Monday, May 13th. Stephens lifted their target price on shares of CareDx from $15.00 to $18.00 and gave the stock an overweight rating in a research report on Monday, May 13th. StockNews.com cut shares of CareDx from a buy rating to a hold rating in a research report on Friday, July 5th. Finally, HC Wainwright reiterated a neutral rating on shares of CareDx in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $22.00.

CareDx Stock Performance

CareDx stock traded down $0.57 during mid-day trading on Thursday, reaching $23.01. The company’s stock had a trading volume of 440,105 shares, compared to its average volume of 886,593. CareDx has a 12-month low of $4.80 and a 12-month high of $26.50. The company has a market capitalization of $1.20 billion, a P/E ratio of -6.89 and a beta of 1.78. The firm’s fifty day moving average price is $15.86 and its two-hundred day moving average price is $12.11.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, May 9th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.18. The business had revenue of $72.05 million for the quarter, compared to analysts’ expectations of $63.63 million. CareDx had a negative return on equity of 51.92% and a negative net margin of 53.73%. On average, research analysts predict that CareDx will post -1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On CareDx

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of CareDx by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,138,591 shares of the company’s stock valued at $28,970,000 after purchasing an additional 50,667 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of CareDx during the 4th quarter valued at about $259,000. Raymond James & Associates boosted its stake in shares of CareDx by 10.5% during the 4th quarter. Raymond James & Associates now owns 76,837 shares of the company’s stock valued at $922,000 after purchasing an additional 7,270 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of CareDx by 442.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after purchasing an additional 5,253 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of CareDx by 65.2% during the 4th quarter. Strs Ohio now owns 60,300 shares of the company’s stock valued at $723,000 after purchasing an additional 23,800 shares in the last quarter.

CareDx Company Profile

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.