Transplant Hero is acquired by CareDx, and its shares rises.
CareDx (CDNA) stock increased 1.4 percent to $88.59 on June 8 after the company announced the acquisition of Transplant Hero, a New York-based software that helps transplant patients manage their meds. The deal’s financial specifics have not yet been revealed.
CareDx is a molecular diagnostics firm specializing on the development, commercialization, and discovery of clinically distinct diagnostic surveillance solutions for transplant patients.
CareDx’s digital portfolio, which comprises a full suite of cloud-based solutions as well as software for transplant centers and dialysis providers, is likely to benefit from the acquisition.
CDNA’s mobile health app, AlloCare, which maintains patients’ wellness routines before and after transplant, is likely to benefit from the deal.
“CareDx and Transplant Hero are both dedicated to enhancing transplant patient outcomes,” stated CDNA CEO Reg Seeto. Transplant Hero’s social media presence will be used to supplement AlloCare.”
CDNA was given a Buy rating and a price target of $95 by Goldman Sachs analyst Matthew Sykes on June 3. (7.2 percent upside potential).
CareDx, according to Sykes, provides a strong breadth of services across the transplant ecosystem, allowing for long-term revenue development.
Based on 4 Buys and 1 Hold, the stock has a Strong Buy consensus rating. The average analyst price target for CDNA is $100, implying a potential upside of 12.9 percent. CDNA stock has risen 152.9 percent in the last year.