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.

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

CareDx Price Performance

Shares of CareDx stock opened at $21.10 on Wednesday. The business’s fifty day moving average price is $22.64 and its two-hundred day moving average price is $25.32. The company has a market capitalization of $1.13 billion, a P/E ratio of -7.81 and a beta of 1.87. CareDx has a 1-year low of $7.42 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, topping 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, research analysts expect that CareDx will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CareDx

A number of hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of CareDx in the 3rd quarter worth $27,000. Thompson Davis & CO. Inc. grew its holdings in shares of CareDx by 6.3% during the fourth quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company’s stock valued at $344,000 after buying an additional 950 shares in the last quarter. Royce & Associates LP grew its holdings in shares of CareDx by 0.3% during the third quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after buying an additional 1,000 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of CareDx by 6.9% during the fourth quarter. Hsbc Holdings PLC now owns 17,131 shares of the company’s stock valued at $365,000 after buying an additional 1,109 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of CareDx by 1.3% during the fourth quarter. Legal & General Group Plc now owns 89,751 shares of the company’s stock valued at $1,922,000 after buying an additional 1,118 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.