Zacks: Analysts Anticipate CareDx, Inc. (CDNA) Will Post Quarterly Sales of $11.99 Million
Wall Street analysts forecast that CareDx, Inc. (NASDAQ:CDNA) will post sales of $11.99 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for CareDx’s earnings, with the lowest sales estimate coming in at $11.65 million and the highest estimate coming in at $12.33 million. CareDx posted sales of $12.48 million during the same quarter last year, which suggests a negative year over year growth rate of 3.9%. The firm is scheduled to report its next earnings report on Wednesday, November 8th.
On average, analysts expect that CareDx will report full-year sales of $11.99 million for the current year. For the next financial year, analysts anticipate that the firm will post sales of $62.17 million per share. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for CareDx.
CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, August 10th. The company reported ($0.19) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.19). The company had revenue of $12.05 million during the quarter, compared to analysts’ expectations of $11.87 million. CareDx had a negative net margin of 61.27% and a negative return on equity of 85.68%.
A number of equities research analysts have commented on CDNA shares. Zacks Investment Research raised CareDx from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a report on Monday, September 4th. ValuEngine raised CareDx from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Raymond James Financial, Inc. raised CareDx from a “market perform” rating to a “buy” rating and set a $6.50 price target for the company in a research note on Wednesday, September 27th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $7.00 price target (up previously from $3.00) on shares of CareDx in a research note on Tuesday, September 26th.
In other news, major shareholder Neil Gagnon bought 21,448 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average price of $2.77 per share, with a total value of $59,410.96. Following the purchase, the insider now owns 903,731 shares of the company’s stock, valued at approximately $2,503,334.87. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 76,516 shares of company stock valued at $228,586 in the last three months. 5.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Stonepine Capital Management LLC purchased a new stake in CareDx in the 2nd quarter valued at about $212,000. Royce & Associates LP grew its holdings in shares of CareDx by 23.5% during the 1st quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock worth $737,000 after purchasing an additional 100,111 shares during the period. Finally, Gagnon Securities LLC grew its holdings in shares of CareDx by 2.9% during the 2nd quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock worth $2,314,000 after purchasing an additional 57,954 shares during the period. Institutional investors own 29.15% of the company’s stock.
CareDx (NASDAQ:CDNA) traded down 3.44% during trading on Thursday, reaching $5.62. 1,035,318 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $3.18 and a 200 day moving average price of $1.69. CareDx has a 52 week low of $0.76 and a 52 week high of $6.69. The firm’s market capitalization is $126.68 million.
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CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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