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

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research note released on Wednesday.

A number of other brokerages have also recently issued reports on CDNA. 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 report on Wednesday, January 15th. HC Wainwright reissued a “neutral” rating and set a $26.00 price objective on shares of CareDx in a report on Tuesday, January 14th. 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 report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $22.15 on Wednesday. CareDx has a one year low of $7.42 and a one year high of $34.84. The business’s fifty day moving average price is $22.66 and its 200-day moving average price is $25.26. The stock has a market capitalization of $1.19 billion, a PE ratio of -8.20 and a beta of 1.87.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data 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 business had revenue of $86.58 million for the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. As a group, equities analysts expect that CareDx will post -0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On CareDx

A number of institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp bought a new position in CareDx in the 4th quarter worth about $631,000. Public Employees Retirement System of Ohio increased its stake in 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 acquiring an additional 3,287 shares during the last quarter. Castleark Management LLC increased its stake 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 acquiring an additional 58,300 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CareDx by 124.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,347 shares of the company’s stock worth $2,577,000 after acquiring an additional 66,833 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of CareDx by 7.7% during the 4th 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 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.