Brokerages expect CareDx, Inc. (NASDAQ:CDNA) to announce $11.99 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for CareDx’s earnings, with estimates ranging from $11.65 million to $12.33 million. CareDx reported sales of $12.48 million during the same quarter last year, which indicates a negative year over year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 8th.

According to Zacks, analysts expect that CareDx will report full year sales of $11.99 million for the current financial year. For the next financial year, analysts forecast that the business will report sales of $62.17 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover CareDx.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, August 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.19). The firm had revenue of $12.05 million during the quarter, compared to analysts’ expectations of $11.87 million. CareDx had a negative return on equity of 85.68% and a negative net margin of 61.27%.

Several research firms have weighed in on CDNA. Raymond James Financial, Inc. raised CareDx from a “market perform” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Wednesday, September 27th. ValuEngine raised CareDx from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $7.00 price target (up previously from $3.00) on shares of CareDx in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised CareDx from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research report on Tuesday, September 12th.

In related news, major shareholder Neil Gagnon purchased 21,448 shares of the stock in a transaction on Monday, August 28th. The shares were purchased at an average price of $2.77 per share, with a total value of $59,410.96. Following the transaction, the insider now directly owns 903,731 shares of the company’s stock, valued at $2,503,334.87. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 65,874 shares of company stock worth $186,018 in the last ninety days. Insiders own 5.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Gagnon Securities LLC increased its holdings in shares of CareDx by 2.9% during the 2nd quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock worth $2,314,000 after acquiring an additional 57,954 shares during the last quarter. Royce & Associates LP increased its holdings in shares of CareDx by 23.5% during the 1st quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock worth $737,000 after acquiring an additional 100,111 shares during the last quarter. Finally, Stonepine Capital Management LLC acquired a new position in shares of CareDx during the 2nd quarter worth approximately $212,000. 29.15% of the stock is currently owned by institutional investors and hedge funds.

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Shares of CareDx (NASDAQ CDNA) opened at 4.41 on Thursday. The company’s market cap is $99.41 million. The firm’s 50-day moving average price is $2.96 and its 200-day moving average price is $1.63. CareDx has a 12 month low of $0.76 and a 12 month high of $4.75.

CareDx Company Profile

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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