CareDx (CDNA) Receives a Hold from H.C. Wainwright


H.C. Wainwright analyst Ram Selvaraju reiterated a Hold rating on CareDx (CDNA) today and set a price target of $30. The company’s shares closed yesterday at $30.90, close to its 52-week high of $32.65.

Selvaraju wrote:

“Our 12-month price target is based on an estimated market value of the firm at $1.3B, which includes a discounted cash flow analysis based asset value for pre- and post-transplant tests, using a 15% discount rate and 2% terminal growth rate, and assuming 47.2M shares outstanding at the end of 1Q20.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.1% and a 31.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

CareDx has an analyst consensus of Strong Buy, with a price target consensus of $35.50.

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Based on CareDx’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $19.97 million. In comparison, last year the company had a GAAP net loss of $31.67 million.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDNA in relation to earlier this year.

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CareDx, Inc. operates as a transplant diagnostics company, which offers pre- and post-transplant continuum. It focuses on discovery, development, and commercialization of diagnostic surveillance solutions.