CareDx (NASDAQ:CDNA) Upgraded to Buy by Craig Hallum

Craig Hallum upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have $15.00 target price on the stock, up from their prior target price of $12.00.

Separately, Stephens reaffirmed an overweight rating and set a $15.00 price target on shares of CareDx in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, CareDx currently has a consensus rating of Moderate Buy and an average target price of $14.00.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $9.72 on Wednesday. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $12.93. The stock has a market capitalization of $503.30 million, a price-to-earnings ratio of -2.75 and a beta of 1.51. The business has a 50-day moving average of $9.67 and a 200-day moving average of $9.34.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). CareDx had a negative net margin of 67.88% and a negative return on equity of 51.40%. The company had revenue of $65.57 million during the quarter, compared to the consensus estimate of $63.66 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. The firm’s revenue for the quarter was down 20.4% compared to the same quarter last year. On average, sell-side analysts expect that CareDx will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CDNA. Headlands Technologies LLC bought a new stake in CareDx in the 4th quarter valued at $50,000. WINTON GROUP Ltd acquired a new position in shares of CareDx in the third quarter valued at $72,000. Nisa Investment Advisors LLC raised its position in shares of CareDx by 442.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after purchasing an additional 5,253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CareDx by 23.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,751 shares of the company’s stock worth $82,000 after buying an additional 2,211 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of CareDx during the 3rd quarter worth about $85,000.

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.