CareDx (NASDAQ:CDNA) Upgraded to Buy at Craig Hallum

CareDx (NASDAQ:CDNA) was upgraded by equities research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Monday, Marketbeat reports. The brokerage currently has a $64.00 target price on the stock. Craig Hallum’s price target indicates a potential upside of 46.42% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. HC Wainwright restated a “neutral” rating and set a $46.00 price objective on shares of CareDx in a research report on Friday. BTIG Research boosted their target price on shares of CareDx from $28.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. William Blair raised shares of CareDx to a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.00.

CareDx Price Performance

Shares of CareDx stock opened at $43.71 on Monday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 21.12 and a beta of 2.38. The business has a fifty day simple moving average of $28.59 and a 200-day simple moving average of $22.62. CareDx has a fifty-two week low of $11.26 and a fifty-two week high of $45.00.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. During the same period in the previous year, the company earned ($0.16) earnings per share. CareDx’s revenue was up 52.2% compared to the same quarter last year. Analysts anticipate that CareDx will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were 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 approximately $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 78,936 shares of company stock valued at $2,093,708 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CareDx

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in CareDx in the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx during the fourth quarter valued at $79,000. Quantbot Technologies LP acquired a new position in CareDx during the third quarter valued at $89,000. CWM LLC lifted its stake in CareDx by 119.1% in the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after acquiring an additional 4,026 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in CareDx by 120.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after acquiring an additional 4,160 shares during the period.

CareDx Company Profile

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.