CareDx (NASDAQ:CDNA) Earns Overweight Rating from Stephens

Stephens reiterated their overweight rating on shares of CareDx (NASDAQ:CDNA - Free Report) in a report published on Thursday morning,Benzinga reports. They currently have a $40.00 target price on the stock.

CDNA has been the subject of a number of other research reports. Wells Fargo & Company upgraded CareDx from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. BTIG Research reduced their price target on shares of CareDx from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. StockNews.com raised CareDx from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $26.00 price target on shares of CareDx in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.83.

CareDx Stock Performance

CDNA stock traded down $1.02 during trading on Thursday, reaching $21.13. 1,155,588 shares of the company were exchanged, compared to its average volume of 842,907. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The company has a market cap of $1.13 billion, a P/E ratio of -7.83 and a beta of 1.87. The stock's 50 day moving average price is $22.69 and its 200 day moving average price is $25.19.

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

Institutional Investors Weigh In On CareDx

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in CareDx by 7.1% in the 4th 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 period. Bamco Inc. NY raised 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 in the last quarter. Fred Alger Management LLC lifted its stake in shares of CareDx by 7.3% in the 4th quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company's stock valued at $34,556,000 after purchasing an additional 110,471 shares during the last quarter. Invesco Ltd. boosted its holdings in CareDx by 3.5% in the fourth quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock worth $32,433,000 after purchasing an additional 51,160 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in CareDx by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock worth $30,663,000 after purchasing an additional 196,298 shares in the last quarter.

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.