Zacks Investment Research upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $7.75 price objective on the stock.
According to Zacks, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California. “
Other equities analysts have also recently issued research reports about the company. HC Wainwright began coverage on CareDx in a report on Monday, November 27th. They set a buy rating and a $12.00 target price on the stock. Craig Hallum restated a buy rating and set a $10.00 target price (up previously from $4.00) on shares of CareDx in a report on Monday, October 9th. Raymond James Financial upgraded 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 upgraded CareDx from a strong sell rating to a sell rating in a report on Tuesday, September 26th. Finally, Piper Jaffray Companies restated 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. CareDx presently has an average rating of Buy and a consensus target price of $8.65.
CareDx (NASDAQ CDNA) opened at $6.48 on Wednesday. CareDx has a 1-year low of $0.76 and a 1-year high of $7.98. The company has a debt-to-equity ratio of -124.53, a current ratio of 0.55 and a quick ratio of 0.35.
CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.02. The business had revenue of $12.19 million for the quarter, compared to analysts’ expectations of $12.05 million. CareDx had a negative return on equity of 157.00% and a negative net margin of 84.14%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. analysts anticipate that CareDx will post -0.83 EPS for the current year.
In other CareDx news, COO Mitchell J. Nelles sold 10,948 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $7.17, for a total transaction of $78,497.16. Following the transaction, the chief operating officer now owns 84,225 shares in the company, valued at $603,893.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James P. Yee sold 29,197 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $7.00, for a total value of $204,379.00. Following the transaction, the insider now owns 74,795 shares in the company, valued at approximately $523,565. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in CDNA. Royce & Associates LP lifted its holdings in shares of CareDx by 39.3% during the 2nd quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock valued at $814,000 after purchasing an additional 206,815 shares in the last quarter. Stonepine Capital Management LLC bought a new position in shares of CareDx during the 2nd quarter valued at about $212,000. Trellus Management Company LLC bought a new position in shares of CareDx during the 3rd quarter valued at about $100,000. Thompson Davis & CO. Inc. lifted its holdings in shares of CareDx by 3,294.9% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 203,692 shares of the company’s stock valued at $754,000 after purchasing an additional 197,692 shares in the last quarter. Finally, Perkins Capital Management Inc. bought a new position in shares of CareDx during the 3rd quarter valued at about $513,000. Institutional investors and hedge funds own 23.14% of the company’s stock.
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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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