CareDx (NASDAQ:CDNA) Stock Rating Upgraded by Wall Street Zen

CareDx (NASDAQ:CDNA) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other brokerages have also recently weighed in on CDNA. William Blair initiated coverage on shares of CareDx in a research note on Tuesday, August 26th. They set a “market perform” rating for the company. Wells Fargo & Company decreased their target price on shares of CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of CareDx in a report on Saturday, September 27th. Craig Hallum reduced their price objective on CareDx from $40.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Finally, BTIG Research reaffirmed a “buy” rating and set a $22.00 price objective on shares of CareDx in a research report on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.50.

CareDx Stock Performance

Shares of CDNA stock opened at $15.19 on Friday. The stock’s 50-day moving average is $13.36 and its two-hundred day moving average is $16.17. The firm has a market cap of $808.56 million, a price-to-earnings ratio of 14.89 and a beta of 2.37. CareDx has a 1 year low of $10.96 and a 1 year high of $32.76.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.28). The firm had revenue of $90.51 million during the quarter, compared to analysts’ expectations of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. CareDx’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, research analysts predict that CareDx will post -0.9 EPS for the current year.

Institutional Trading of CareDx

Institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of CareDx by 76.1% during the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company’s stock worth $47,355,000 after purchasing an additional 1,153,011 shares in the last quarter. Bamco Inc. NY lifted its stake in CareDx by 11.2% in the 2nd quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock valued at $47,593,000 after buying an additional 245,651 shares in the last quarter. Ophir Asset Management Pty Ltd grew its holdings in CareDx by 17.0% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company’s stock valued at $36,989,000 after buying an additional 274,625 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of CareDx by 11.5% during the second quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock valued at $34,507,000 after acquiring an additional 182,025 shares during the last quarter. Finally, Gagnon Securities LLC grew its holdings in shares of CareDx by 8.9% during the second quarter. Gagnon Securities LLC now owns 1,548,912 shares of the company’s stock worth $30,266,000 after buying an additional 127,223 shares in 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.