Craig Hallum reaffirmed their buy rating on shares of CareDx, Inc. (NASDAQ:CDNA) in a research report sent to investors on Monday morning. Craig Hallum currently has a $10.00 price target on the stock, up from their prior price target of $4.00.
A number of other research firms have also weighed in on CDNA. Raymond James Financial, Inc. raised shares of CareDx from a market perform rating to a buy rating and set a $6.50 target price on the stock in a report on Wednesday, September 27th. ValuEngine raised shares of CareDx from a strong sell rating to a sell rating in a report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed an overweight rating and set a $7.00 target price (up previously from $3.00) on shares of CareDx in a report on Tuesday, September 26th. Finally, Zacks Investment Research lowered shares of CareDx from a buy rating to a hold rating in a report on Monday, September 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $6.69.
CareDx (NASDAQ:CDNA) opened at 5.86 on Monday. CareDx has a one year low of $0.76 and a one year high of $6.69. The company’s market capitalization is $132.09 million. The stock’s 50 day moving average is $3.61 and its 200 day moving average is $1.82.
CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, August 10th. The company reported ($0.19) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.19). The business had revenue of $12.05 million for the quarter, compared to analyst estimates of $11.87 million. CareDx had a negative net margin of 61.27% and a negative return on equity of 85.68%. On average, analysts anticipate that CareDx will post ($0.82) earnings per share for the current fiscal year.
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In related news, major shareholder Neil Gagnon purchased 10,642 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was acquired at an average price of $4.00 per share, with a total value of $42,568.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders acquired 76,516 shares of company stock valued at $228,586. Corporate insiders own 5.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Stonepine Capital Management LLC purchased a new stake in shares of CareDx in the 2nd quarter valued at $212,000. Royce & Associates LP boosted its stake in shares of CareDx by 23.5% in the 1st quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock valued at $737,000 after purchasing an additional 100,111 shares in the last quarter. Finally, Gagnon Securities LLC boosted its stake in shares of CareDx by 2.9% in the 2nd quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock valued at $2,314,000 after purchasing an additional 57,954 shares in the last quarter. 29.13% of the stock is owned by institutional investors.
CareDx Company Profile
CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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