CareDx’s (CDNA) “Overweight” Rating Reaffirmed at Stephens

CareDx (NASDAQ:CDNA)‘s stock had its “overweight” rating reiterated by Stephens in a report released on Thursday,Benzinga reports. They currently have a $40.00 target price on the stock. Stephens’ target price suggests a potential upside of 83.87% from the company’s current price.

Several other research firms also recently weighed in on CDNA. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday. BTIG Research reduced their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. HC Wainwright reaffirmed a “neutral” rating and set a $26.00 price target on shares of CareDx in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

CareDx Price Performance

NASDAQ CDNA opened at $21.75 on Thursday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -8.06 and a beta of 1.87. The business has a 50 day simple moving average of $22.64 and a 200 day simple moving average of $25.32. CareDx has a one year low of $7.42 and a one year high of $34.84.

CareDx (NASDAQ:CDNA) last posted 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 firm 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%. Equities analysts expect that CareDx will post -0.9 earnings per share for the current year.

Hedge Funds Weigh In On CareDx

Several large investors have recently added to or reduced their stakes in the business. Virtue Capital Management LLC purchased a new stake in shares of CareDx in the third quarter worth approximately $755,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in CareDx during the third quarter worth $1,671,000. Geode Capital Management LLC raised its position in CareDx by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after buying an additional 32,141 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in CareDx during the 3rd quarter valued at $781,000. Finally, Barclays PLC boosted its holdings in CareDx by 123.8% during the 3rd quarter. Barclays PLC now owns 98,505 shares of the company’s stock worth $3,075,000 after acquiring an additional 54,482 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.