CareDx (NASDAQ:CDNA) Receives "Buy" Rating from BTIG Research

Key Points

• CareDx received a "buy" rating from BTIG Research, with a price target of $22.00, suggesting a potential upside of 62.60% from the stock's previous close.
• Other analysts have varied opinions, with Craig Hallum lowering its target price to $26.00 and Wall Street Zen changing its rating from "hold" to "sell."
• CareDx reported earnings that missed estimates, with a loss of ($0.16) EPS for the quarter, and a revenue of $90.51 million, down 6.1% from the previous year.

CareDx (NASDAQ:CDNA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at BTIG Research in a report released on Friday,Benzinga reports. They presently have a $22.00 price objective on the stock. BTIG Research's price objective indicates a potential upside of 62.60% from the stock's previous close.

Other analysts have also issued reports about the stock. Craig Hallum cut their target price on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Wall Street Zen lowered shares of CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. William Blair started coverage on shares of CareDx in a research report on Tuesday, August 26th. They set a "market perform" rating for the company. Finally, Wells Fargo & Company lowered their price objective on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, CareDx has a consensus rating of "Moderate Buy" and an average target price of $25.50.

CareDx Trading Up 1.5%

Shares of NASDAQ CDNA opened at $13.53 on Friday. The firm has a 50 day moving average of $13.95 and a 200 day moving average of $16.75. The firm has a market capitalization of $720.20 million, a price-to-earnings ratio of 13.26 and a beta of 2.28. CareDx has a 12-month low of $10.96 and a 12-month high of $32.97.

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

Insider Buying and Selling

In related news, Director Peter Maag sold 10,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $18.58, for a total value of $185,800.00. Following the transaction, the director directly owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. The trade was a 3.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hannah Valantine sold 10,570 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total value of $202,521.20. Following the completion of the transaction, the director directly owned 38,994 shares in the company, valued at approximately $747,125.04. This represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,570 shares of company stock worth $580,721. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new position in CareDx in the 1st quarter worth approximately $375,000. Nuveen Asset Management LLC increased its stake in CareDx by 15.5% in the 4th quarter. Nuveen Asset Management LLC now owns 448,113 shares of the company's stock worth $9,594,000 after acquiring an additional 60,050 shares during the last quarter. Millennium Management LLC increased its stake in CareDx by 37.8% in the 4th quarter. Millennium Management LLC now owns 621,307 shares of the company's stock worth $13,302,000 after acquiring an additional 170,568 shares during the last quarter. US Bancorp DE increased its stake in CareDx by 7.2% in the 1st quarter. US Bancorp DE now owns 18,403 shares of the company's stock worth $327,000 after acquiring an additional 1,235 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in CareDx by 15.8% in the 4th quarter. Ameriprise Financial Inc. now owns 279,309 shares of the company's stock worth $5,980,000 after acquiring an additional 38,101 shares during the last quarter.

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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