Stock analysts at Piper Sandler began coverage on shares of CareDx (NASDAQ:CDNA – Get Free Report) in a report issued on Wednesday, Marketbeat reports. The brokerage set an “overweight” rating and a $100.00 price target on the stock. Piper Sandler‘s target price suggests a potential upside of 23.81% from the company’s current price.
A number of other research analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a report on Friday, July 31st. William Blair upgraded shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Monday, August 3rd. Wall Street Zen cut CareDx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Canaccord Genuity Group set a $99.00 price target on CareDx in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, CareDx presently has an average rating of “Moderate Buy” and a consensus target price of $70.33.
Read Our Latest Report on CDNA
CareDx Price Performance
NASDAQ:CDNA opened at $80.77 on Wednesday. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 33.80 and a beta of 2.50. The company has a 50 day moving average price of $64.53 and a 200-day moving average price of $35.82. CareDx has a 1-year low of $15.15 and a 1-year high of $90.87.
CareDx (NASDAQ:CDNA – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.45. CareDx had a net margin of 25.86% and a return on equity of 9.74%. The firm had revenue of $139.36 million during the quarter, compared to analysts’ expectations of $121.96 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s revenue was up 39.3% compared to the same quarter last year. On average, sell-side analysts anticipate that CareDx will post 0.99 earnings per share for the current fiscal year.
Insider Buying and Selling at CareDx
In other news, CFO Keith Kennedy sold 61,961 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $77.82, for a total transaction of $4,821,805.02. Following the transaction, the chief financial officer owned 199,147 shares in the company, valued at $15,497,619.54. This trade represents a 23.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On CareDx
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in CareDx during the second quarter valued at $137,219,000. Bamco Inc. NY purchased a new stake in shares of CareDx during the second quarter worth about $55,214,000. Bank of America Corp DE acquired a new position in shares of CareDx during the 2nd quarter worth about $16,297,000. Palo Alto Investors LP acquired a new position in shares of CareDx during the 2nd quarter worth about $15,158,295. Finally, Jupiter Topco LLC acquired a new position in shares of CareDx during the 2nd quarter worth about $9,673,000.
About CareDx
CareDx, Inc. is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time. Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.
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