CareDx (NASDAQ:CDNA) Issues Quarterly Earnings Results, Beats Estimates By $1.46 EPS

CareDx (NASDAQ:CDNA) released its quarterly earnings data on Wednesday. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46, Zacks reports. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm had revenue of $86.58 million during the quarter, compared to the consensus estimate of $84.56 million.

CareDx Trading Up 0.6 %

Shares of NASDAQ CDNA traded up $0.13 during midday trading on Friday, hitting $21.19. 148,317 shares of the company’s stock were exchanged, compared to its average volume of 877,200. The business’s fifty day moving average price is $22.66 and its two-hundred day moving average price is $25.26. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -7.85 and a beta of 1.87.

Analyst Upgrades and Downgrades

CDNA has been the subject of several research analyst reports. BTIG Research cut their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. HC Wainwright reissued a “neutral” rating and issued a $26.00 price target on shares of CareDx in a report on Tuesday, January 14th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Wednesday. Stephens restated an “overweight” rating and set a $40.00 target price on shares of CareDx in a report on Thursday. Finally, Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.00.

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.