Analysts Set CareDx, Inc (NASDAQ:CDNA) Target Price at $31.83

Shares of CareDx, Inc (NASDAQ:CDNA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven research firms that are presently covering the company, Marketbeat reports. Three 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 covered the stock in the last year is $30.33.

Several brokerages recently issued reports on CDNA. The Goldman Sachs Group decreased their price target on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday. Stephens reiterated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research note on Thursday, February 27th. Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. HC Wainwright reduced their price objective on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, StockNews.com upgraded shares of CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently bought and sold shares of CDNA. Divisadero Street Capital Management LP purchased a new stake in shares of CareDx during the 4th quarter valued at approximately $15,239,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of CareDx by 52.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company's stock worth $26,625,000 after purchasing an additional 428,864 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in CareDx in the third quarter worth approximately $10,873,000. Bamco Inc. NY grew its holdings in shares of CareDx by 17.6% during the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock valued at $47,258,000 after purchasing an additional 330,627 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of CareDx by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock valued at $104,047,000 after buying an additional 323,554 shares during the last quarter.

CareDx Trading Down 3.3 %

NASDAQ CDNA traded down $0.60 during mid-day trading on Wednesday, hitting $17.62. The company's stock had a trading volume of 537,147 shares, compared to its average volume of 853,578. The firm has a market capitalization of $976.61 million, a price-to-earnings ratio of -6.53 and a beta of 2.18. The company's 50 day simple moving average is $19.73 and its 200 day simple moving average is $22.26. CareDx has a twelve month low of $7.42 and a twelve month high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $1.46. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm had revenue of $86.58 million during the quarter, compared to analysts' expectations of $84.56 million. As a group, research analysts forecast that CareDx will post -0.9 EPS for the current year.

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.