H.C. Wainwright Sticks to Their Buy Rating for CareDx

By Jason Carr

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on CareDx (NASDAQ: CDNA), with a price target of $12. The company’s shares closed yesterday at $8.62, close to its 52-week high of $8.99.

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -9.6% and a 35.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

CareDx has an analyst consensus of Moderate Buy, with a price target consensus of $11.50.

Based on CareDx’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $12.5 million and GAAP net loss of $31.67 million. In comparison, last year the company earned revenue of $11.58 million and had a GAAP net loss of $5.56 million.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is neutral on the stock. Last month, Peter Maag, the President & CEO of CDNA bought 50,000 shares for a total of $27,000.

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 commercial stage company, which engages in developing, marketing, and delivering a diagnostic surveillance solution. Its product includes AlloMap, which aids clinicians in identifying heart transplant recipients with stable allograft function. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.