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CareDx management to meet with Jefferies
Meeting to be held in Boston on March 19 hosted by Jefferies.
CareDx initiated with a Buy at Jefferies
Jefferies analyst Brandon Couillard started CareDx with a Buy rating and $35 price target. The company is "strongly positioned" as a leader in the over $2B transplant diagnostics market with two commercialized tests that serve an unmet need for non-invasive detection of heart and kidney post-transplant rejection, Couillard tells investors in a research note. He believes the market "underappreciates the runway for continued AlloSure growth."
Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cubic (CUB) initiated with a Buy at Citi. 2. Del Frisco's (DFRG) initiated with a Neutral at JPMorgan. 3. Lindblad Expeditions (LIND) initiated with a Buy at Stifel. 4. CareDx (CDNA) initiated with a Buy at Jefferies. 5. AcelRx (ACRX) initiated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage,
CareDx has $85M market opportunity in lung transplant, says Piper Jaffray
Piper Jaffray analyst William Quirk says that while lung represents the smallest number of transplants of the big four organs at 2,530 transplants in 2018, today's announcement from CareDx is another example of how cfDNA can be applied across the transplant continuum. Assuming a similar 7-4-4 testing methodology at 75% adherence and $2,000 reimbursement suggests an $85M market opportunity for the company in lung transplant, Quirk tells investors in a research note. He believes the foray into lung is a "natural extension" of CareDx's work in kidney and heart and should extend its moat in transplant medicine. The analyst reiterates an Overweight rating on CareDx with a $42 price target.
CareDx remains a top small cap idea at Piper Jaffray
Piper Jaffray analyst William Quirk says CareDx's Q4 results were driven by strong AlloSure performance and enrollment expansion in the K-OAR study. The analyst views the company's 2019 revenue guidance as conservative and believes its competitive moat in transplant medicine continues to widen. The stock remains his top small cap idea and Quirk reiterates an Overweight rating on CareDx with a $42 price target.
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