CareDx (NASDAQ:CDNA) Upgraded by StockNews.com to “Buy”

CareDx (NASDAQ:CDNA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other research firms also recently commented on CDNA. Raymond James downgraded CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a report on Friday, May 31st. The Goldman Sachs Group increased their price target on CareDx from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Craig Hallum increased their price target on CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Stephens increased their price target on CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.50.

CareDx Stock Up 7.9 %

Shares of CDNA opened at $15.53 on Thursday. The stock’s fifty day simple moving average is $13.09 and its 200-day simple moving average is $11.12. The firm has a market capitalization of $808.80 million, a PE ratio of -4.54 and a beta of 1.77. CareDx has a 12-month low of $4.80 and a 12-month high of $17.03.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.18. The business had revenue of $72.05 million during the quarter, compared to the consensus estimate of $63.63 million. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. Analysts anticipate that CareDx will post -1.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of CareDx by 8.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,150,972 shares of the company’s stock worth $12,189,000 after buying an additional 92,363 shares in the last quarter. Caxton Associates LP grew its holdings in shares of CareDx by 97.2% during the first quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock worth $1,020,000 after buying an additional 47,469 shares in the last quarter. Bamco Inc. NY bought a new position in shares of CareDx during the first quarter worth about $13,025,000. Price T Rowe Associates Inc. MD grew its holdings in shares of CareDx by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock worth $312,000 after buying an additional 2,344 shares in the last quarter. Finally, Gagnon Securities LLC grew its holdings in shares of CareDx by 7.1% during the first quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after buying an additional 149,485 shares in the last quarter.

About CareDx

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.