CareDx (NASDAQ:CDNA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

A number of other analysts have also recently weighed in on CDNA. BTIG Research reduced their price target on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. HC Wainwright reaffirmed a “neutral” rating and issued a $26.00 price target on shares of CareDx in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.33.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $21.10 on Wednesday. The business’s 50-day moving average price is $22.64 and its two-hundred day moving average price is $25.32. CareDx has a one year low of $7.42 and a one year high of $34.84. The company has a market capitalization of $1.13 billion, a P/E ratio of -7.81 and a beta of 1.87.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $1.46. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. On average, equities analysts anticipate that CareDx will post -0.9 EPS for the current year.

Hedge Funds Weigh In On CareDx

Large investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of CareDx during the 3rd quarter worth about $27,000. Sterling Capital Management LLC lifted its position in shares of CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after purchasing an additional 1,126 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of CareDx during the 3rd quarter worth about $52,000. KBC Group NV acquired a new position in shares of CareDx during the 3rd quarter worth about $99,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after purchasing an additional 3,322 shares during the last quarter.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.