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

Key Points

• CareDx's stock rating has been upgraded from "sell" to "hold" by analysts at Wall Street Zen.
• The stock currently has a consensus rating of "Hold" with a target price of $25.50, amidst fluctuating ratings from various analysts.
• CareDx reported a net loss of ($0.16) per share for the last quarter, missing estimates and showing a revenue decline of 6.1% compared to the previous year.

CareDx (NASDAQ:CDNA - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Monday.

CDNA has been the topic of several other reports. Wells Fargo & Company lowered their target price on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. William Blair started coverage on shares of CareDx in a report on Tuesday, August 26th. They set a "market perform" rating on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CareDx in a report on Wednesday, October 8th. Craig Hallum decreased their price objective on shares of CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Finally, BTIG Research reissued a "buy" rating and issued a $22.00 price objective on shares of CareDx in a research note on Tuesday, September 23rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CareDx presently has a consensus rating of "Hold" and a consensus target price of $25.50.

CareDx Trading Down 3.9%

Shares of CDNA opened at $14.41 on Monday. CareDx has a 12 month low of $10.96 and a 12 month high of $26.37. The firm's 50 day moving average is $13.79 and its 200-day moving average is $15.91. The stock has a market capitalization of $767.04 million, a PE ratio of 14.13 and a beta of 2.37.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28). CareDx had a return on equity of 18.03% and a net margin of 17.97%.The business had revenue of $90.51 million for the quarter, compared to the consensus estimate of $90.72 million. During the same period in the prior year, the business posted $0.25 earnings per share. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts predict that CareDx will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently modified their holdings of the stock. MCF Advisors LLC grew its stake in shares of CareDx by 292.9% during the second quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock worth $26,000 after buying an additional 996 shares during the last quarter. Allworth Financial LP bought a new stake in shares of CareDx during the second quarter worth $40,000. PNC Financial Services Group Inc. lifted its holdings in shares of CareDx by 20,200.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after purchasing an additional 4,444 shares during the period. Morse Asset Management Inc acquired a new position in shares of CareDx during the first quarter worth $103,000. Finally, RiverPark Advisors LLC acquired a new position in shares of CareDx during the second quarter worth $149,000.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides 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; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.

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