BTIG Research Reaffirms "Buy" Rating for CareDx (NASDAQ:CDNA)

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 reiterated by BTIG Research in a report issued on Friday,Benzinga reports. They presently have a $22.00 price target on the stock. BTIG Research's price objective would suggest a potential upside of 50.54% from the company's current price.

Several other equities research analysts have also recently commented on the company. Craig Hallum dropped their price objective on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. William Blair assumed coverage on CareDx in a report on Tuesday, August 26th. They set a "market perform" rating on the stock. Wall Street Zen cut CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company lowered their price target on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, CareDx presently has an average rating of "Moderate Buy" and an average price target of $25.50.

CareDx Price Performance

NASDAQ:CDNA traded up $0.43 during mid-day trading on Friday, reaching $14.61. 914,601 shares of the company's stock traded hands, compared to its average volume of 1,198,357. CareDx has a 12-month low of $10.96 and a 12-month high of $32.97. The firm has a market capitalization of $777.90 million, a price-to-earnings ratio of 14.37 and a beta of 2.28. The company has a 50 day moving average price of $13.64 and a 200-day moving average price of $16.57.

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

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 10,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the transaction, the director owned 308,846 shares in the company, valued at approximately $5,738,358.68. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company's stock.

Institutional Trading of CareDx

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in CareDx by 3.4% in the first quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock valued at $348,000 after purchasing an additional 640 shares during the period. Sei Investments Co. grew its position in shares of CareDx by 1.7% during the first quarter. Sei Investments Co. now owns 47,921 shares of the company's stock worth $851,000 after acquiring an additional 816 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of CareDx by 3.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock worth $425,000 after acquiring an additional 900 shares during the last quarter. MCF Advisors LLC grew its position in CareDx by 292.9% in the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock valued at $26,000 after buying an additional 996 shares in the last quarter. Finally, Cetera Trust Company N.A grew its position in CareDx by 11.2% in the 2nd quarter. Cetera Trust Company N.A now owns 12,195 shares of the company's stock valued at $238,000 after buying an additional 1,225 shares in the last quarter.

About CareDx

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.