Brokerages Set CareDx, Inc. (NASDAQ:CDNA) Price Target at $27.33

CareDx, Inc. (NASDAQ:CDNA) has earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $27.3333.

CDNA has been the topic of a number of research analyst reports. BTIG Research lifted their price target on CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wall Street Zen lowered CareDx from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Craig Hallum lowered CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research note on Tuesday, January 6th. Weiss Ratings lowered CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. Finally, Wells Fargo & Company lifted their price target on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th.

CareDx Price Performance

CareDx stock opened at $17.67 on Wednesday. The stock has a market capitalization of $904.99 million, a PE ratio of -44.18 and a beta of 2.54. CareDx has a 12 month low of $10.96 and a 12 month high of $21.49. The business has a 50 day simple moving average of $18.55 and a 200-day simple moving average of $17.73.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The firm had revenue of $108.39 million during the quarter, compared to analyst estimates of $102.76 million. CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The business’s revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, equities research analysts anticipate that CareDx will post -0.9 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of CareDx stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total value of $407,964.80. Following the sale, the chief executive officer directly owned 597,405 shares of the company’s stock, valued at $12,641,089.80. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 29,636 shares of company stock valued at $625,949 over the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Trading of CareDx

A number of institutional investors have recently made changes to their positions in CDNA. Quarry LP acquired a new position in CareDx during the fourth quarter worth $25,000. FNY Investment Advisers LLC acquired a new position in CareDx during the third quarter worth $31,000. State of Alaska Department of Revenue acquired a new position in CareDx during the third quarter worth $43,000. Meeder Asset Management Inc. acquired a new position in CareDx during the fourth quarter worth $79,000. Finally, Quantbot Technologies LP acquired a new position in CareDx during the third quarter worth $89,000.

CareDx Company Profile

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.