H.C. Wainwright Keeps a Buy Rating on CareDx (CDNA)

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on CareDx (CDNA), with a price target of $40.00. The company’s shares closed last Thursday at $25.38.

According to TipRanks.com, Chen is a 5-star analyst with an average return of 14.1% and a 43.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, HTG Molecular Diagnostics, and EyePoint Pharmaceuticals.

Currently, the analyst consensus on CareDx is a Moderate Buy with an average price target of $40.00.

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Based on CareDx’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $35.82 million and GAAP net loss of $4.78 million. In comparison, last year the company earned revenue of $23.51 million and had a GAAP net loss of $3.76 million.

Based on the recent corporate insider activity of 64 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. Most recently, in March 2020, Ralph Snyderman, a Director at CDNA bought 14,598 shares for a total of $53,867.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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