Craig Hallum Reaffirms Buy Rating for CareDx, Inc. (CDNA)

Craig Hallum reissued their buy rating on shares of CareDx, Inc. (NASDAQ:CDNA) in a research report released on Monday morning. The firm currently has a $10.00 target price on the stock, up from their prior target price of $4.00.

A number of other equities research analysts also recently commented on CDNA. Zacks Investment Research upgraded CareDx from a hold rating to a buy rating and set a $1.25 target price on the stock in a research report on Tuesday, July 4th. ValuEngine upgraded CareDx from a strong sell rating to a sell rating in a research report on Thursday, August 24th. Piper Jaffray Companies reiterated an overweight rating and issued a $7.00 target price (up from $3.00) on shares of CareDx in a research report on Tuesday, September 26th. Finally, Raymond James Financial, Inc. upgraded CareDx from a market perform rating to a buy rating and set a $6.50 target price on the stock in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. CareDx currently has an average rating of Buy and a consensus target price of $6.69.

CareDx (NASDAQ CDNA) opened at 5.90 on Monday. The company’s market capitalization is $132.99 million. CareDx has a 12 month low of $0.76 and a 12 month high of $6.69. The stock’s 50 day moving average price is $3.51 and its 200 day moving average price is $1.79.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, August 10th. The company reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). The company had revenue of $12.05 million for the quarter, compared to the consensus estimate of $11.87 million. CareDx had a negative return on equity of 85.68% and a negative net margin of 61.27%. Equities research analysts anticipate that CareDx will post ($0.82) earnings per share for the current fiscal year.

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In related news, major shareholder Neil Gagnon acquired 10,642 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were acquired at an average cost of $4.00 per share, for a total transaction of $42,568.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have acquired 76,516 shares of company stock worth $228,586. Company insiders own 5.40% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Royce & Associates LP raised its position in CareDx by 23.5% during the first quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock valued at $737,000 after purchasing an additional 100,111 shares during the period. Gagnon Securities LLC raised its position in CareDx by 2.9% during the second quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock valued at $2,314,000 after purchasing an additional 57,954 shares during the period. Finally, Stonepine Capital Management LLC purchased a new stake in CareDx during the second quarter valued at approximately $212,000. Institutional investors and hedge funds own 29.13% of the company’s stock.

CareDx Company Profile

CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.

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