CareDx (NASDAQ:CDNA) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research note issued to investors on Sunday.

A number of other equities analysts have also recently weighed in on CDNA. BTIG Research boosted their price target on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Zacks Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. William Blair assumed coverage on shares of CareDx in a report on Tuesday, August 26th. They set a “market perform” rating for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of CareDx in a research note on Monday, December 15th. Finally, Wells Fargo & Company lifted their target price on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.67.

CareDx Trading Up 1.4%

Shares of NASDAQ CDNA opened at $19.45 on Friday. The company’s 50-day moving average price is $16.69 and its 200 day moving average price is $15.81. CareDx has a 52 week low of $10.96 and a 52 week high of $25.95. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 16.34 and a beta of 2.54.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.15. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The company had revenue of $100.06 million for the quarter, compared to the consensus estimate of $95.25 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, research analysts expect that CareDx will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On CareDx

A number of institutional investors have recently added to or reduced their stakes in CDNA. Bamco Inc. NY increased its stake in CareDx by 29.5% during the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after acquiring an additional 719,523 shares during the last quarter. Deerfield Management Company L.P. purchased a new stake in shares of CareDx during the 3rd quarter worth about $31,857,000. Braidwell LP acquired a new stake in CareDx during the 3rd quarter worth approximately $31,738,000. ARK Investment Management LLC increased its position in CareDx by 3.4% during the 3rd quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after purchasing an additional 70,468 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd raised its holdings in CareDx by 17.0% in the second quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company’s stock valued at $36,989,000 after buying an additional 274,625 shares during the period.

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.