CareDx price target raised to $28 from $26 at BTIG

BTIG raised the firm’s price target on CareDx (CDNA) to $28 from $26 and keeps a Buy rating on the shares. The company has announced many positive updates on its Q1 call, and the biggest was its deal to acquire Naveris, a privately held MRD company, for up to $260M, the analyst tells investors in a research note. BTIG adds it expects CareDx to exceed its 2027 LR revenue target of $500M, driven by outperformance of its core transplant business and exchanging its low-margin, non-core products business for a much faster-growing, higher-margin new MRD business.