CareDx, Inc. (NASDAQ:CDNA) Stock Has Consensus Target Price of $54.00 According to Brokerages

Key Points

• Analysts remain cautious on CareDx: Eight firms assign the stock a consensus “Hold” rating, with five holds and three buys. The average 12-month price target is $54, below the reported $64 share price.
• Recent operating results exceeded expectations: CareDx reported quarterly EPS of $0.37 versus a $0.23 consensus estimate, while revenue reached $131.95 million, up 52.2% year over year and above forecasts.
• Insiders recently sold shares: Two directors sold a combined 36,000 shares for approximately $1.68 million under a pre-arranged trading plan; insiders retain a 2.4% stake in the company.

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) has been given a consensus rating of "Hold" by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $54.00.

A number of research analysts have recently commented on CDNA shares. William Blair upgraded CareDx to a "hold" rating in a research report on Thursday, July 16th. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 price target on shares of CareDx in a research note on Friday, July 31st. Zacks Research downgraded shares of CareDx from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 2nd. Weiss Ratings upgraded shares of CareDx from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Finally, BTIG Research lifted their price target on CareDx from $60.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th.

Insider Activity at CareDx

In other news, Director Christine Cournoyer sold 16,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the transaction, the director owned 42,943 shares of the company's stock, valued at approximately $2,015,744.42. The trade was a 27.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff, III sold 20,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the sale, the director owned 134,061 shares in the company, valued at $6,204,343.08. The trade was a 12.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On CareDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nykredit A S bought a new stake in CareDx during the second quarter valued at about $25,000. Integrated Wealth Concepts LLC bought a new position in CareDx in the second quarter worth about $29,000. IFP Advisors Inc raised its holdings in CareDx by 1,158.0% in the third quarter. IFP Advisors Inc now owns 1,107 shares of the company's stock worth $72,000 after purchasing an additional 1,019 shares in the last quarter. USA Financial Formulas bought a new position in CareDx in the third quarter worth about $97,000. Finally, Allworth Financial LP purchased a new stake in shares of CareDx during the second quarter valued at about $72,000.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $64.00 on Friday. The company has a market cap of $3.31 billion, a P/E ratio of 30.92 and a beta of 2.38. CareDx has a 52-week low of $14.03 and a 52-week high of $72.51. The firm's fifty day moving average is $55.03 and its two-hundred day moving average is $36.13.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.23 by $0.14. The business had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The business's revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.16) EPS. As a group, analysts forecast that CareDx will post 0.47 EPS for the current fiscal year.

CareDx Company Profile

CareDx, Inc NASDAQ: CDNA is a precision-medicine company focused on improving the care of organ-transplant patients. The company develops diagnostic tests, digital tools and services designed to help clinicians monitor transplant recipients, assess the risk of rejection and support long-term graft management.

CareDx's product portfolio includes AlloMap, a gene-expression blood test used in heart-transplant surveillance, and AlloSure, a donor-derived cell-free DNA test designed to help detect potential organ injury or rejection.

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