CareDx, Inc. (NASDAQ:CDNA) Given Consensus Recommendation of “Hold” by Brokerages

CareDx, Inc. (NASDAQ:CDNA) has received a consensus rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $26.6667.

Several brokerages have recently weighed in on CDNA. Wells Fargo & Company increased their target price on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. BTIG Research increased their price objective on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Zacks Research raised CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CareDx in a report on Monday. Finally, Wall Street Zen raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st.

CareDx Trading Down 1.3%

Shares of NASDAQ:CDNA opened at $19.48 on Monday. The firm has a 50 day simple moving average of $17.21 and a 200-day simple moving average of $15.87. CareDx has a twelve month low of $10.96 and a twelve month high of $25.95. The company has a market capitalization of $1.00 billion, a PE ratio of 16.37 and a beta of 2.54.

CareDx (NASDAQ:CDNA) last posted its earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.15. The business had revenue of $100.06 million during the quarter, compared to the consensus estimate of $95.25 million. CareDx had a return on equity of 20.15% and a net margin of 19.65%.The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) EPS. As a group, equities research analysts predict that CareDx will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On CareDx

A number of hedge funds have recently added to or reduced their stakes in CDNA. Deerfield Management Company L.P. acquired a new stake in shares of CareDx in the 3rd quarter valued at approximately $31,857,000. Braidwell LP purchased a new stake in shares of CareDx during the 3rd quarter worth $31,738,000. Next Century Growth Investors LLC grew its stake in shares of CareDx by 309.4% during the 2nd quarter. Next Century Growth Investors LLC now owns 1,125,454 shares of the company’s stock worth $21,991,000 after purchasing an additional 850,580 shares during the period. Bamco Inc. NY increased its holdings in shares of CareDx by 29.5% in the 3rd quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after purchasing an additional 719,523 shares in the last quarter. Finally, Amova Asset Management Americas Inc. lifted its stake in shares of CareDx by 40.8% in the third quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock valued at $25,283,000 after purchasing an additional 504,473 shares during the period.

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.