CareDx Inc. (NASDAQ:CDNA) Receives Average Recommendation of “Buy” from Brokerages
CareDx Inc. (NASDAQ:CDNA) has been given an average recommendation of “Buy” by the seven brokerages that are presently covering the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.75.
Several equities research analysts recently issued reports on CDNA shares. Leerink Swann reissued a “buy” rating on shares of CareDx in a research note on Tuesday, June 14th. Mizuho lifted their price objective on CareDx from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Zacks Investment Research raised CareDx from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research note on Monday, July 11th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $6.00 price objective on shares of CareDx in a research note on Wednesday, June 15th.
Shares of CareDx (NASDAQ:CDNA) traded up 5.17% during midday trading on Monday, hitting $4.27. The stock had a trading volume of 1,416 shares. The stock’s market cap is $81.03 million. CareDx has a 1-year low of $3.70 and a 1-year high of $7.39. The firm’s 50-day moving average price is $4.73 and its 200-day moving average price is $4.73.
CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. The business had revenue of $10.70 million for the quarter, compared to the consensus estimate of $10.42 million. CareDx had a negative net margin of 91.21% and a negative return on equity of 59.77%. CareDx’s quarterly revenue was up 50.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.27) EPS. Analysts forecast that CareDx will post ($1.05) earnings per share for the current year.
A number of large investors have recently modified their holdings of CDNA. Royce & Associates LP raised its stake in shares of CareDx by 15.5% in the first quarter. Royce & Associates LP now owns 85,917 shares of the company’s stock valued at $426,000 after buying an additional 11,503 shares during the period. Vanguard Group Inc. increased its position in CareDx by 281.2% in the second quarter. Vanguard Group Inc. now owns 306,178 shares of the company’s stock valued at $1,323,000 after buying an additional 225,863 shares in the last quarter. Gagnon Advisors LLC increased its position in CareDx by 40.7% in the second quarter. Gagnon Advisors LLC now owns 952,464 shares of the company’s stock valued at $4,105,000 after buying an additional 275,496 shares in the last quarter. Finally, Gagnon Securities LLC increased its position in CareDx by 13.5% in the second quarter. Gagnon Securities LLC now owns 1,339,005 shares of the company’s stock valued at $5,771,000 after buying an additional 159,491 shares in the last quarter. 34.41% of the stock is owned by hedge funds and other institutional investors.
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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