CareDx (NASDAQ:CDNA) Upgraded to Strong-Buy at Zacks Research

CareDx (NASDAQ:CDNA) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

CDNA has been the topic of a number of other reports. BTIG Research lifted their price objective on shares of CareDx from $81.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Canaccord Genuity Group set a $99.00 target price on CareDx in a research report on Friday, October 30th. Wall Street Zen downgraded shares of CareDx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Weiss Ratings raised CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, William Blair raised shares of CareDx to a “hold” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.40.

CareDx Stock Up 2.9%

CDNA opened at $78.56 on Thursday. The business has a 50 day moving average of $63.23 and a 200-day moving average of $35.20. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 130.12 and a beta of 2.51. CareDx has a 12-month low of $14.72 and a 12-month high of $90.87.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.45. CareDx had a net margin of 25.86% and a return on equity of 9.74%. The business had revenue of $139.36 million for the quarter, compared to the consensus estimate of $121.96 million. During the same period in the previous year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. As a group, analysts expect that CareDx will post 0.99 earnings per share for the current year.

Institutional Investors Weigh In On CareDx

Large investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in CareDx by 10.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,660 shares of the company’s stock valued at $173,000 after acquiring an additional 259 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new stake in shares of CareDx in the third quarter valued at about $50,000. Signaturefd LLC bought a new position in shares of CareDx during the third quarter worth approximately $51,000. Nykredit A S acquired a new stake in shares of CareDx in the second quarter valued at about $25,000. Finally, Allspring Global Investments Holdings LLC grew its stake in CareDx by 4.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,000 shares of the company’s stock valued at $1,523,000 after purchasing an additional 961 shares during the period.

About CareDx

CareDx, Inc is a healthcare diagnostics company focused on improving the care of organ-transplant patients. The company develops and commercializes noninvasive tests and digital tools intended to help physicians assess transplant-organ health, identify potential rejection, and support long-term patient management.

Its offerings include AlloSure donor-derived cell-free DNA tests for monitoring transplant recipients, AlloMap gene-expression testing for heart-transplant patients, and HeartCare, which combines AlloMap and AlloSure results.