Stephens Reaffirms “Overweight” Rating for CareDx (NASDAQ:CDNA)

CareDx (NASDAQ:CDNA)‘s stock had its “overweight” rating reissued by research analysts at Stephens in a research note issued on Thursday,Benzinga reports. They currently have a $40.00 target price on the stock. Stephens’ price objective would indicate a potential upside of 80.59% from the stock’s current price.

CDNA has been the subject of a number of other reports. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. HC Wainwright reaffirmed a “neutral” rating and set a $26.00 price target on shares of CareDx in a report on Tuesday, January 14th. 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 report on Tuesday, November 5th. Finally, StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, CareDx has an average rating of “Moderate Buy” and a consensus price target of $32.00.

CareDx Trading Up 5.2 %

CareDx stock opened at $22.15 on Thursday. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -8.20 and a beta of 1.87. The business’s fifty day simple moving average is $22.66 and its two-hundred day simple moving average is $25.26.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46. The company had revenue of $86.58 million for the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. On average, equities research analysts predict that CareDx will post -0.9 EPS for the current year.

Hedge Funds Weigh In On CareDx

Several institutional investors have recently made changes to their positions in CDNA. Mackenzie Financial Corp bought a new position in CareDx in the fourth quarter worth approximately $631,000. Public Employees Retirement System of Ohio increased its stake in shares of CareDx by 6.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 53,672 shares of the company’s stock worth $1,149,000 after purchasing an additional 3,287 shares in the last quarter. Castleark Management LLC raised its holdings in CareDx by 41.7% in the 4th quarter. Castleark Management LLC now owns 198,180 shares of the company’s stock worth $4,243,000 after purchasing an additional 58,300 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CareDx by 124.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,347 shares of the company’s stock valued at $2,577,000 after purchasing an additional 66,833 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in CareDx by 7.7% during the fourth quarter. Squarepoint Ops LLC now owns 231,235 shares of the company’s stock valued at $4,951,000 after purchasing an additional 16,484 shares during the period.

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.