CareDx (NASDAQ:CDNA) Posts Quarterly Earnings Results, Beats Estimates By $1.46 EPS

CareDx (NASDAQ:CDNA) posted its quarterly earnings results on Wednesday. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $1.46, Zacks reports. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%.

CareDx Price Performance

Shares of NASDAQ CDNA traded up $0.21 during midday trading on Wednesday, reaching $21.10. 761,166 shares of the stock were exchanged, compared to its average volume of 886,901. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -7.81 and a beta of 1.87. The business has a 50-day simple moving average of $22.64 and a two-hundred day simple moving average of $25.32.

Analyst Ratings Changes

CDNA has been the topic of several recent research reports. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. HC Wainwright reaffirmed a “neutral” rating and issued a $26.00 price objective on shares of CareDx in a research note on Tuesday, January 14th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, BTIG Research reduced their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.33.

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.