Analysts Set CareDx, Inc (NASDAQ:CDNA) Price Target at $79.80

CareDx, Inc (NASDAQ:CDNA) has been given an average rating of “Buy” by the eight brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $79.80.

Several analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of CareDx from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. TheStreet upgraded shares of CareDx from a “d” rating to a “c-” rating in a research report on Friday, March 19th. Raymond James reduced their price target on shares of CareDx from $98.00 to $90.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Zacks Investment Research upgraded shares of CareDx from a “sell” rating to a “hold” rating in a research report on Tuesday, April 27th. Finally, HC Wainwright lowered shares of CareDx from a “buy” rating to a “neutral” rating in a research report on Friday, February 26th.

In other CareDx news, insider Reginald Seeto sold 10,704 shares of the stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $85.45, for a total transaction of $914,656.80. Also, insider Peter Maag sold 10,000 shares of the stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $61.29, for a total transaction of $612,900.00. The disclosure for this sale can be found here. Insiders have sold 60,704 shares of company stock valued at $4,517,557 in the last quarter. Company insiders own 3.10% of the company’s stock.

Large investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of CareDx by 6.5% in the first quarter. BlackRock Inc. now owns 4,099,418 shares of the company’s stock worth $279,129,000 after buying an additional 248,632 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of CareDx by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,418,341 shares of the company’s stock worth $102,759,000 after buying an additional 65,135 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of CareDx by 14.4% in the first quarter. Lord Abbett & CO. LLC now owns 1,109,131 shares of the company’s stock worth $75,521,000 after buying an additional 139,636 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of CareDx by 69.7% in the fourth quarter. Clearbridge Investments LLC now owns 1,077,977 shares of the company’s stock worth $78,099,000 after buying an additional 442,692 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of CareDx by 4.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 820,146 shares of the company’s stock worth $55,844,000 after buying an additional 35,363 shares in the last quarter.

Shares of NASDAQ CDNA traded down $2.27 during trading on Friday, hitting $63.48. The stock had a trading volume of 4,764 shares, compared to its average volume of 734,300. CareDx has a 12 month low of $26.61 and a 12 month high of $99.83. The company has a market capitalization of $3.30 billion, a PE ratio of -142.93 and a beta of 0.84. The firm has a fifty day moving average of $72.66 and a two-hundred day moving average of $71.50.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.13. CareDx had a negative net margin of 11.79% and a negative return on equity of 10.95%. On average, research analysts predict that CareDx will post -0.47 earnings per share for the current year.

About CareDx

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It offers 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; and AlloSure Heart, a dd-cfDNA test to identify underlying cell injury leading to organ rejection.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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