CareDx, Inc. (NASDAQ:CDNA) Receives $47.75 Consensus Price Target from Analysts

Shares of CareDx, Inc. (NASDAQ:CDNA) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $51.20.

Several equities research analysts have recently weighed in on CDNA shares. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, August 3rd. Weiss Ratings raised CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Canaccord Genuity Group initiated coverage on CareDx in a report on Wednesday. They issued a “buy” rating and a $65.00 price target for the company. HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a research report on Friday, July 31st. Finally, William Blair upgraded shares of CareDx to a “hold” rating in a research note on Thursday, July 16th.

Insider Activity

In other CareDx news, Director George Bickerstaff sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the transaction, the director owned 134,061 shares in the company, valued at $6,204,343.08. The trade was a 12.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christine Cournoyer sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total value of $751,040.00. Following the sale, the director owned 42,943 shares of the company’s stock, valued at $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 110,101 shares of company stock valued at $3,654,308 over the last ninety days. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

A number of hedge funds have recently bought and sold shares of CDNA. Nykredit A S acquired a new position in shares of CareDx in the 2nd quarter valued at approximately $25,000. Quarry LP acquired a new stake in shares of CareDx during the fourth quarter worth approximately $25,000. Allworth Financial LP bought a new stake in shares of CareDx in the second quarter worth $72,000. Meeder Asset Management Inc. bought a new stake in shares of CareDx in the fourth quarter worth $79,000. Finally, Quantbot Technologies LP acquired a new stake in CareDx in the third quarter valued at $89,000.

CareDx Trading Up 1.3%

NASDAQ:CDNA opened at $49.60 on Friday. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 23.96 and a beta of 2.43. The firm’s fifty day simple moving average is $39.84 and its 200 day simple moving average is $27.11. CareDx has a twelve month low of $12.37 and a twelve month high of $53.67.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same period in the prior year, the firm earned ($0.16) EPS. The firm’s quarterly revenue was up 52.2% compared to the same quarter last year. On average, analysts predict that CareDx will post 0.47 earnings per share for the current year.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.