BTIG Research Issues Positive Forecast for CareDx (NASDAQ:CDNA) Stock Price

CareDx (NASDAQ:CDNA) had its price target increased by BTIG Research from $45.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 31.87% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price target on shares of CareDx in a research note on Friday, July 31st. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. William Blair upgraded CareDx to a “hold” rating in a report on Thursday, July 16th. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday. Finally, Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.75.

CareDx Price Performance

CDNA stock opened at $45.50 on Thursday. CareDx has a 12 month low of $11.26 and a 12 month high of $49.76. The firm’s 50-day moving average is $30.09 and its 200 day moving average is $23.18. The company has a market capitalization of $2.35 billion, a PE ratio of 21.98 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. The company had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $114.05 million. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The firm’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.16) EPS. Sell-side analysts forecast that CareDx will post 0.22 EPS for the current fiscal year.

Insider Transactions at CareDx

In other news, Director Hannah Valantine sold 12,103 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the completion of the sale, the director owned 36,686 shares in the company, valued at approximately $847,813.46. The trade was a 24.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the sale, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at $19,355,681.16. The trade was a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 78,936 shares of company stock worth $2,093,708 in the last three months. Insiders own 2.40% of the company’s stock.

Institutional Trading of CareDx

A number of hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in CareDx by 44.9% during the 1st quarter. Bank of America Corp DE now owns 470,665 shares of the company’s stock valued at $8,171,000 after acquiring an additional 145,840 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of CareDx by 10.1% in the 1st quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock worth $5,495,000 after acquiring an additional 28,958 shares in the last quarter. Amundi bought a new position in shares of CareDx in the 1st quarter worth $206,000. Quantinno Capital Management LP purchased a new stake in shares of CareDx during the 1st quarter worth $298,000. Finally, Renaissance Technologies LLC lifted its stake in shares of CareDx by 7.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company’s stock worth $20,561,000 after purchasing an additional 79,200 shares during the last quarter.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.