CareDx (NASDAQ:CDNA) Receives Overweight Rating from Stephens

Stephens reissued their overweight rating on shares of CareDx (NASDAQ:CDNA) in a research note published on Thursday,Benzinga reports. Stephens currently has a $40.00 target price on the stock.

Several other brokerages also recently weighed in on CDNA. BTIG Research cut their price target on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Wednesday. HC Wainwright reissued a “neutral” rating and issued a $26.00 price target on shares of CareDx in a report on Tuesday, January 14th. Finally, Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

CareDx Trading Down 0.2 %

Shares of CareDx stock opened at $21.06 on Thursday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -7.80 and a beta of 1.87. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The firm’s 50 day simple moving average is $22.65 and its two-hundred day simple moving average is $25.29.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46. The company had revenue of $86.58 million during the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. On average, sell-side analysts predict that CareDx will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of CareDx in the third quarter valued at about $27,000. Sterling Capital Management LLC boosted its holdings in CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after buying an additional 1,126 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in CareDx during the 3rd quarter worth approximately $52,000. Tower Research Capital LLC TRC raised its holdings in shares of CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after acquiring an additional 3,322 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of CareDx in the fourth quarter worth approximately $91,000.

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.