CareDx (NASDAQ:CDNA) Receives "Buy" Rating from Craig Hallum

CareDx (NASDAQ:CDNA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Craig Hallum in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $15.00 price objective on the stock. Craig Hallum's price target would indicate a potential upside of 35.62% from the company's previous close.

Separately, Stephens restated an "overweight" rating and issued a $15.00 target price on shares of CareDx in a report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, CareDx currently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

CareDx Stock Up 8.6 %

Shares of NASDAQ:CDNA traded up $0.88 during trading on Thursday, reaching $11.06. The stock had a trading volume of 1,918,881 shares, compared to its average volume of 906,484. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $12.93. The business has a fifty day moving average price of $9.73 and a 200-day moving average price of $9.44. The stock has a market cap of $572.68 million, a P/E ratio of -3.08 and a beta of 1.51.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($1.97). The business had revenue of $65.57 million for the quarter, compared to analysts' expectations of $63.66 million. CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The company's revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) EPS. As a group, equities analysts forecast that CareDx will post -1.59 EPS for the current year.

Hedge Funds Weigh In On CareDx

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in CareDx in the fourth quarter valued at about $50,000. WINTON GROUP Ltd acquired a new stake in CareDx in the third quarter valued at approximately $72,000. Nisa Investment Advisors LLC lifted its position in shares of CareDx by 442.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company's stock worth $77,000 after purchasing an additional 5,253 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CareDx by 23.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,751 shares of the company's stock valued at $82,000 after purchasing an additional 2,211 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new stake in CareDx during the 3rd quarter valued at $85,000.

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.