CareDx price target lowered to $22 from $26 at BTIG

BTIG lowered the firm’s price target on CareDx (CDNA) to $22 from $26 and keeps a Buy rating on the shares. The company delivered a roughly in-line Q2 and tightened its full-year guidance range, though the key to the earnings call was CareDx estimating the impacts of the recent Palmetto MolDx draft LCD, which proposes to limit reimbursement, the analyst tells investors in a research note.