CareDx Inc (CDNA) Receives $38.60 Consensus Target Price from Analysts

Shares of CareDx Inc (NASDAQ:CDNA) have been given an average recommendation of “Buy” by the nine brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $38.60.

Several analysts have weighed in on CDNA shares. HC Wainwright reaffirmed a “hold” rating and set a $27.00 price objective on shares of CareDx in a research note on Friday, December 21st. Zacks Investment Research raised shares of CareDx from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 3rd. BidaskClub cut shares of CareDx from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 15th. Jefferies Financial Group started coverage on shares of CareDx in a research note on Friday, February 15th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Raymond James upped their price objective on shares of CareDx from $38.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 22nd.

In other news, insider James P. Yee sold 32,500 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $23.88, for a total transaction of $776,100.00. Following the sale, the insider now directly owns 73,543 shares of the company’s stock, valued at $1,756,206.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sasha King sold 2,500 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $25.00, for a total transaction of $62,500.00. Following the sale, the insider now directly owns 76,387 shares in the company, valued at $1,909,675. The disclosure for this sale can be found here. Insiders have sold 195,822 shares of company stock worth $6,113,764 over the last three months. 3.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in CareDx in the fourth quarter worth $45,000. First Interstate Bank acquired a new stake in shares of CareDx during the fourth quarter worth $80,000. Great West Life Assurance Co. Can acquired a new stake in shares of CareDx during the fourth quarter worth $81,000. Meeder Asset Management Inc. raised its holdings in shares of CareDx by 31.7% during the fourth quarter. Meeder Asset Management Inc. now owns 5,692 shares of the company’s stock worth $144,000 after acquiring an additional 1,371 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of CareDx by 19.5% during the fourth quarter. Legal & General Group Plc now owns 6,129 shares of the company’s stock worth $154,000 after acquiring an additional 998 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.

NASDAQ CDNA traded up $0.12 on Thursday, reaching $28.38. The company’s stock had a trading volume of 383,706 shares, compared to its average volume of 848,145. The stock has a market cap of $1.17 billion, a P/E ratio of -21.66 and a beta of 1.20. CareDx has a 52 week low of $8.86 and a 52 week high of $39.38.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, March 6th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). The business had revenue of $23.51 million during the quarter, compared to the consensus estimate of $23.34 million. CareDx had a negative net margin of 61.06% and a negative return on equity of 63.64%. As a group, equities analysts predict that CareDx will post -0.4 EPS for the current year.

About CareDx

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, focuses on the discovery, development, and commercialization of diagnostic solutions for transplant patients worldwide. The company develops and provides a diagnostic surveillance testing solution for heart and kidney transplant recipients.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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