Raymond James Increases CareDx (NASDAQ:CDNA) Price Target to $48.00

CareDx (NASDAQ:CDNA) had its price objective upped by Raymond James from $46.00 to $48.00 in a research report released on Friday, BenzingaRatingsTable reports. Raymond James currently has a strong-buy rating on the stock.

Other research analysts have also issued research reports about the stock. TheStreet lowered shares of CareDx from a c rating to a d rating in a research note on Thursday, May 23rd. BidaskClub raised shares of CareDx from a sell rating to a hold rating in a research note on Wednesday. Piper Jaffray Companies lifted their price target on shares of CareDx from $50.00 to $63.00 and gave the company an overweight rating in a research note on Friday. HC Wainwright raised shares of CareDx from a neutral rating to a buy rating and lifted their price target for the company from $30.00 to $43.00 in a research note on Thursday, May 9th. Finally, Craig Hallum set a $48.00 price target on shares of CareDx and gave the company a positive rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $44.00.

CareDx stock traded up $1.01 during midday trading on Friday, hitting $35.01. 2,103,980 shares of the stock were exchanged, compared to its average volume of 1,098,336. The firm has a fifty day moving average price of $35.47. CareDx has a 52 week low of $13.94 and a 52 week high of $41.27. The stock has a market capitalization of $1.38 billion, a PE ratio of -26.73 and a beta of 0.90.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). CareDx had a negative return on equity of 52.93% and a negative net margin of 51.21%. The firm had revenue of $31.45 million for the quarter, compared to the consensus estimate of $27.96 million. On average, sell-side analysts expect that CareDx will post -0.53 earnings per share for the current fiscal year.

In other CareDx news, CFO Michael Brian Bell sold 14,894 shares of CareDx stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $32.42, for a total value of $482,863.48. Following the transaction, the chief financial officer now owns 90,623 shares of the company’s stock, valued at $2,937,997.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James P. Yee sold 20,000 shares of CareDx stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $37.54, for a total transaction of $750,800.00. Following the completion of the transaction, the insider now directly owns 62,170 shares in the company, valued at approximately $2,333,861.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,180 shares of company stock worth $6,373,653. Insiders own 3.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CDNA. Aperio Group LLC acquired a new stake in shares of CareDx in the second quarter valued at approximately $31,000. Covenant Multifamily Offices LLC acquired a new stake in shares of CareDx in the first quarter valued at approximately $32,000. Pearl River Capital LLC acquired a new stake in shares of CareDx in the first quarter valued at approximately $48,000. First Quadrant L P CA acquired a new stake in shares of CareDx in the second quarter valued at approximately $63,000. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of CareDx in the fourth quarter valued at approximately $81,000. Institutional investors own 88.87% of the company’s stock.

About CareDx

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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