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

CareDx, Inc. (NASDAQ:CDNA) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $47.75.

Several equities analysts have issued reports on CDNA shares. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price objective on shares of CareDx in a report on Friday, July 31st. Weiss Ratings raised CareDx from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. BTIG Research upped their target price on CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, William Blair raised CareDx to a “hold” rating in a research report on Thursday, July 16th.

Insider Buying and Selling at CareDx

In related news, Director George Bickerstaff sold 20,000 shares of the company’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 completion of the sale, the director owned 134,061 shares in the company, valued at $6,204,343.08. This represents a 12.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hannah Valantine sold 12,103 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the sale, the director owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. This represents a 24.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 114,936 shares of company stock valued at $3,770,348. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CDNA. Nykredit A S acquired a new stake in shares of CareDx during the second quarter worth about $25,000. Quarry LP purchased a new position in shares of CareDx during the fourth quarter worth about $25,000. Allworth Financial LP acquired a new position in CareDx in the 2nd quarter valued at about $72,000. Meeder Asset Management Inc. acquired a new position in CareDx in the 4th quarter valued at about $79,000. Finally, Quantbot Technologies LP purchased a new stake in CareDx during the 3rd quarter valued at approximately $89,000.

CareDx Stock Up 0.6%

CareDx stock opened at $50.11 on Friday. CareDx has a 52-week low of $12.37 and a 52-week high of $53.67. The firm has a market cap of $2.59 billion, a PE ratio of 24.21 and a beta of 2.38. The company’s 50 day moving average is $38.91 and its two-hundred day moving average is $26.69.

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

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.