CareDx Inc. (CDNA) Raised to Hold at Zacks Investment Research
According to Zacks, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California. “
CDNA has been the topic of a number of other research reports. Leerink Swann restated a buy rating on shares of CareDx in a report on Tuesday, June 14th. Piper Jaffray Cos. restated an overweight rating and set a $6.00 target price on shares of CareDx in a report on Wednesday, June 15th. Finally, Mizuho raised their target price on CareDx from $8.00 to $12.00 and gave the stock a buy rating in a report on Tuesday, June 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $9.25.
Shares of CareDx (NASDAQ:CDNA) opened at 4.2763 on Thursday. The company’s market cap is $81.15 million. CareDx has a 52 week low of $3.70 and a 52 week high of $7.19. The company has a 50 day moving average price of $4.67 and a 200 day moving average price of $4.72.
CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, August 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.01. CareDx had a negative return on equity of 59.77% and a negative net margin of 91.21%. The company had revenue of $10.70 million for the quarter, compared to the consensus estimate of $10.42 million. During the same quarter last year, the business posted ($0.27) EPS. CareDx’s quarterly revenue was up 50.7% on a year-over-year basis. On average, equities analysts expect that CareDx will post ($1.05) earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Gagnon Securities LLC raised its stake in CareDx by 62.4% in the second quarter. Gagnon Securities LLC now owns 1,915,534 shares of the company’s stock worth $7,578,000 after buying an additional 736,020 shares in the last quarter. Gagnon Advisors LLC raised its stake in shares of CareDx by 40.7% in the second quarter. Gagnon Advisors LLC now owns 952,464 shares of the company’s stock worth $4,105,000 after buying an additional 275,496 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CareDx by 281.2% in the second quarter. Vanguard Group Inc. now owns 306,178 shares of the company’s stock worth $1,323,000 after buying an additional 225,863 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of CareDx by 56.8% in the second quarter. Royce & Associates LP now owns 134,745 shares of the company’s stock worth $582,000 after buying an additional 48,828 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors.
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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