Wall Street Analysts Believe CareDx (CDNA) Could Rally 28.02%: Here's is How to Trade

Core Viewpoint - CareDx (CDNA) has shown a significant price increase of 24.7% over the past four weeks, with a mean price target of $22.8 indicating a potential upside of 28% from the current price of $17.81 [1] Price Targets and Analyst Estimates - The mean estimate consists of five short-term price targets with a standard deviation of $5.54, where the lowest estimate is $14.00 (21.4% decline) and the highest is $28.00 (57.2% increase) [2] - A low standard deviation among price targets suggests a high degree of agreement among analysts regarding the stock's price movement [9] Earnings Estimates and Market Sentiment - Analysts have shown increasing optimism about CareDx's earnings prospects, with a strong consensus on higher EPS estimates, which correlates with potential stock price increases [11] - Over the last 30 days, two estimates have been revised upward, leading to a 38.8% increase in the Zacks Consensus Estimate for the current year [12] Zacks Rank and Investment Potential - CareDx holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [13] - While consensus price targets may not be entirely reliable, the implied direction of price movement appears to be a useful guide for investors [14]