CareDx, Inc. (CDNA) Expected to Post Earnings of -$0.17 Per Share
Analysts expect CareDx, Inc. (NASDAQ:CDNA) to announce earnings of ($0.17) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for CareDx’s earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.19). CareDx posted earnings per share of ($0.15) in the same quarter last year, which indicates a negative year over year growth rate of 13.3%. The company is expected to announce its next earnings results on Wednesday, November 8th.
Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover CareDx.
CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.19). The firm had revenue of $12.05 million during the quarter, compared to the consensus estimate of $11.87 million. CareDx had a negative net margin of 61.27% and a negative return on equity of 85.68%.
A number of equities research analysts have recently weighed in on CDNA shares. Craig Hallum restated a “buy” rating and issued a $10.00 price objective (up from $4.00) on shares of CareDx in a report on Monday, October 9th. Raymond James Financial, Inc. upgraded shares of CareDx from a “market perform” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Wednesday, September 27th. Zacks Investment Research upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a report on Tuesday, September 12th. Piper Jaffray Companies restated an “overweight” rating and issued a $7.00 price objective (up from $3.00) on shares of CareDx in a report on Tuesday, September 26th. Finally, ValuEngine upgraded shares of CareDx from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. CareDx has a consensus rating of “Buy” and an average price target of $6.69.
CareDx (NASDAQ CDNA) traded up 1.56% during trading on Friday, hitting $5.85. 177,213 shares of the stock traded hands. The company has a 50-day moving average price of $4.10 and a 200-day moving average price of $2.00. CareDx has a 12 month low of $0.76 and a 12 month high of $6.69. The stock’s market cap is $150.71 million.
In other news, major shareholder Neil Gagnon purchased 21,448 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average cost of $2.77 per share, for a total transaction of $59,410.96. Following the acquisition, the insider now directly owns 903,731 shares of the company’s stock, valued at approximately $2,503,334.87. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 76,516 shares of company stock valued at $228,586 over the last quarter. 5.40% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Trellus Management Company LLC bought a new stake in CareDx during the 3rd quarter valued at $100,000. Stonepine Capital Management LLC bought a new stake in CareDx during the 2nd quarter valued at $212,000. Royce & Associates LP raised its holdings in CareDx by 39.3% during the 2nd quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock valued at $814,000 after buying an additional 206,815 shares during the last quarter. Finally, Gagnon Securities LLC raised its holdings in CareDx by 2.9% during the 2nd quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock valued at $2,314,000 after buying an additional 57,954 shares during the last quarter. Institutional investors own 25.51% of the company’s stock.
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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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