CareDx (NASDAQ:CDNA) Raised 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 sent to investors on Monday morning.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group upped their target price on CareDx from $16.00 to $26.00 and gave the company a buy rating in a research note on Thursday, August 1st. Stephens increased their price objective on CareDx from $15.00 to $18.00 and gave the stock an overweight rating in a research note on Monday, May 13th. Raymond James cut CareDx from an outperform rating to a market perform rating in a research note on Monday, May 13th. HC Wainwright reissued a neutral rating on shares of CareDx in a research note on Thursday, August 1st. Finally, Craig Hallum increased their price objective on CareDx from $22.00 to $32.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CareDx currently has a consensus rating of Moderate Buy and an average price target of $22.00.

CareDx Stock Performance

CDNA opened at $27.39 on Monday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -8.01 and a beta of 1.78. The stock’s 50 day moving average price is $16.83 and its 200-day moving average price is $12.61. CareDx has a one year low of $4.80 and a one year high of $27.47.

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 firm 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 53.65% and a negative net margin of 53.73%. As a group, analysts predict that CareDx will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of CareDx

Several hedge funds and other institutional investors have recently bought and sold shares of CDNA. GAMMA Investing LLC boosted its position in CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares in the last quarter. Headlands Technologies LLC bought a new stake in CareDx during the 4th quarter valued at $50,000. Nisa Investment Advisors LLC boosted its position in 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 acquiring an additional 5,253 shares in the last quarter. Quest Partners LLC bought a new stake in CareDx during the 4th quarter valued at $117,000. Finally, Cetera Trust Company N.A bought a new stake in CareDx during the 4th quarter valued at $142,000.

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.