CareDx (NASDAQ:CDNA) Price Target Raised to $21.00

CareDx (NASDAQ:CDNA) had its price target raised by Wells Fargo & Company from $18.00 to $21.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of CareDx from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Zacks Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a research report on Monday, December 29th. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Tuesday, January 6th. Finally, BTIG Research raised their price objective on CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CareDx has an average rating of “Hold” and an average price target of $27.33.

CareDx Trading Down 0.3%

Shares of CDNA stock opened at $18.76 on Wednesday. The stock has a 50 day simple moving average of $19.64 and a 200-day simple moving average of $16.81. The company has a market cap of $960.89 million, a price-to-earnings ratio of -46.90 and a beta of 2.51. CareDx has a 12-month low of $10.96 and a 12-month high of $22.61.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). CareDx had a negative return on equity of 6.33% and a negative net margin of 5.65%.The business had revenue of $108.39 million for the quarter, compared to analyst estimates of $102.76 million. During the same period in the prior year, the company earned $0.18 EPS. The company’s revenue was up 25.2% on a year-over-year basis. On average, equities analysts forecast that CareDx will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John Walter Hanna, Jr. sold 19,280 shares of the company’s 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 owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 29,636 shares of company stock worth $625,949. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On CareDx

A number of institutional investors have recently made changes to their positions in CDNA. Quarry LP acquired a new stake in shares of CareDx during the fourth quarter valued at $25,000. FNY Investment Advisers LLC purchased a new position in CareDx in the 3rd quarter valued at about $31,000. Allworth Financial LP acquired a new stake in shares of CareDx during the 2nd quarter worth about $40,000. State of Alaska Department of Revenue purchased a new stake in shares of CareDx during the third quarter worth about $43,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of CareDx in the fourth quarter valued at approximately $79,000.

About CareDx

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.