Key Takeaways:
- CareDx (CDNA, Financial) bounces back after addressing market concerns over its test products.
- Analysts provide strong upside potential with their price targets on CDNA.
- GuruFocus estimates indicate a promising fair value for CareDx's stock in the coming year.
Following a challenging phase marked by a significant 38% decline, CareDx (CDNA) has staged a significant rebound. This recovery comes on the heels of assurances concerning the continued use of its testing products in light of a draft Local Coverage Determination (LCD) affecting organ transplants. The company has confidently stated there will be no alterations to Medicare coverage, nor any anticipated impact on the utilization of its offerings. A proposed bundled payment model is currently undergoing review.
Wall Street Analysts Forecast
Market experts have weighed in, with seven analysts projecting a one-year price target for CareDx Inc (CDNA, Financial) that averages at $29.57, ranging from a high of $40.00 to a low of $19.00. This average target price suggests a potential upside of 143.19% from its current level of $12.16. Investors looking for a deeper dive into these projections can explore the CareDx Inc (CDNA) Forecast page.
Furthermore, the collective recommendation from eight brokerage firms classifies CareDx's stock as "Outperform," with an average brokerage recommendation score of 2.0. This score aligns with a rating scale where 1 indicates a Strong Buy and 5 signals a Sell.
According to GuruFocus's proprietary metrics, the estimated GF Value for CareDx Inc (CDNA, Financial) is projected to reach $18.84 within the next year, implying a substantial upside of 54.93% from its current trading price of $12.16. This GF Value is derived from historical trading multiples, past business growth, and projected future business performance. Investors can access more comprehensive data on the CareDx Inc (CDNA) Summary page.
