BTIG Research Forecasts Strong Price Appreciation for CareDx (NASDAQ:CDNA) Stock

CareDx (NASDAQ:CDNA) had its price objective upped by equities researchers at BTIG Research from $22.00 to $25.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 60.05% from the stock’s previous close.

A number of other equities research analysts have also weighed in on CDNA. Craig Hallum dropped their price objective on shares of CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Zacks Research cut CareDx from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Wall Street Zen downgraded CareDx from a “hold” rating to a “sell” rating in a report on Tuesday, October 28th. William Blair initiated coverage on CareDx in a research report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of CareDx in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, CareDx has an average rating of “Hold” and an average price target of $26.00.

CareDx Trading Up 4.1%

NASDAQ CDNA opened at $15.62 on Thursday. The firm’s fifty day simple moving average is $14.53 and its two-hundred day simple moving average is $15.60. The firm has a market capitalization of $831.41 million, a P/E ratio of 15.31 and a beta of 2.50. CareDx has a 12-month low of $10.96 and a 12-month high of $26.37.

CareDx (NASDAQ:CDNA) last released its earnings results on Tuesday, November 4th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The company had revenue of $100.06 million during the quarter, compared to analyst estimates of $95.25 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%.The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) earnings per share. CareDx has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that CareDx will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of CareDx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in CareDx by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 19,624 shares of the company’s stock worth $348,000 after purchasing an additional 640 shares during the period. Sei Investments Co. grew its stake in CareDx by 1.7% during the 1st quarter. Sei Investments Co. now owns 47,921 shares of the company’s stock valued at $851,000 after acquiring an additional 816 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of CareDx by 3.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company’s stock valued at $425,000 after purchasing an additional 900 shares during the last quarter. MCF Advisors LLC increased its stake in shares of CareDx by 292.9% in the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company’s stock worth $26,000 after acquiring an additional 996 shares during the last quarter. Finally, Cetera Trust Company N.A raised its stake in CareDx by 11.2% during the second quarter. Cetera Trust Company N.A now owns 12,195 shares of the company’s stock worth $238,000 after purchasing an additional 1,225 shares during the period.

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.