CareDx (CDNA) Rating Reiterated by Craig Hallum

CareDx (NASDAQ:CDNA)‘s stock had its “buy” rating reaffirmed by analysts at Craig Hallum in a research note issued on Friday, The Fly reports. They presently have a $40.00 target price on the stock. Craig Hallum’s price target indicates a potential upside of 56.19% from the stock’s current price.

CDNA has been the topic of several other reports. BidaskClub upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research cut CareDx from a “buy” rating to a “sell” rating in a research note on Wednesday, August 15th. Raymond James restated a “strong-buy” rating and set a $30.00 price objective on shares of CareDx in a research note on Tuesday, October 23rd. HC Wainwright restated a “neutral” rating and set a $22.00 price objective on shares of CareDx in a research note on Tuesday, September 18th. Finally, Piper Jaffray Companies raised their price objective on CareDx to $42.00 in a research note on Wednesday, September 5th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $29.60.

NASDAQ CDNA opened at $25.61 on Friday. CareDx has a 12-month low of $4.92 and a 12-month high of $30.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.16 and a quick ratio of 1.83. The firm has a market capitalization of $1.03 billion, a P/E ratio of -33.26 and a beta of 1.06.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Thursday, November 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.42). CareDx had a negative net margin of 121.92% and a negative return on equity of 108.99%. The business had revenue of $21.18 million during the quarter, compared to analyst estimates of $18.47 million. On average, sell-side analysts expect that CareDx will post -0.94 earnings per share for the current year.

In other news, CFO Michael Brian Bell sold 12,500 shares of CareDx stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $16.84, for a total transaction of $210,500.00. Following the sale, the chief financial officer now directly owns 68,593 shares in the company, valued at approximately $1,155,106.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sasha King sold 11,500 shares of CareDx stock in a transaction on Friday, October 5th. The stock was sold at an average price of $24.60, for a total value of $282,900.00. Following the sale, the insider now owns 53,542 shares in the company, valued at $1,317,133.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,954 shares of company stock worth $4,187,359. Company insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of CareDx during the 3rd quarter worth $124,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of CareDx by 7.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 87,748 shares of the company’s stock worth $1,074,000 after purchasing an additional 6,418 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in shares of CareDx during the 3rd quarter worth $201,000. Citadel Advisors LLC raised its stake in CareDx by 37.5% in the 2nd quarter. Citadel Advisors LLC now owns 26,216 shares of the company’s stock valued at $321,000 after acquiring an additional 7,156 shares during the period. Finally, CAPROCK Group Inc. bought a new stake in CareDx in the 3rd quarter valued at about $237,000. Institutional investors own 74.63% of the company’s stock.

About CareDx

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.

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