CareDx, Inc (NASDAQ:CDNA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CareDx, Inc (NASDAQ:CDNA) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.33.

CDNA has been the topic of several recent research reports. The Goldman Sachs Group dropped their price target on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday. Stephens reaffirmed an “overweight” rating and set a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. HC Wainwright dropped their price objective on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th.

Hedge Funds Weigh In On CareDx

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in shares of CareDx in the first quarter valued at $375,000. Exchange Traded Concepts LLC grew its stake in CareDx by 25.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 36,489 shares of the company’s stock valued at $648,000 after acquiring an additional 7,382 shares during the last quarter. GAMMA Investing LLC increased its holdings in CareDx by 1,818.3% during the 1st quarter. GAMMA Investing LLC now owns 46,097 shares of the company’s stock valued at $818,000 after acquiring an additional 43,694 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in CareDx during the fourth quarter worth about $210,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of CareDx in the fourth quarter valued at about $631,000.

CareDx Stock Down 3.3 %

Shares of NASDAQ CDNA opened at $17.62 on Wednesday. The business has a 50-day moving average price of $19.73 and a 200 day moving average price of $22.26. The stock has a market cap of $976.61 million, a PE ratio of -6.53 and a beta of 2.18. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. Sell-side analysts anticipate that CareDx will post -0.9 earnings per share for the current year.

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.