Chromadex (CDXC) Receives a Buy from H.C. Wainwright

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Chromadex (CDXCResearch Report) today and set a price target of $16.00. The company’s shares closed last Friday at $8.88.

According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 11.6% and a 48.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Protalix Biotherapeutics, Bausch Health Companies, and NeuroBo Pharmaceuticals.

Currently, the analyst consensus on Chromadex is a Strong Buy with an average price target of $15.75.

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Based on Chromadex’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $15.45 million and GAAP net loss of $6.1 million. In comparison, last year the company earned revenue of $13.09 million and had a GAAP net loss of $8.85 million.

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Chromadex Corp. is a nutraceutical company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It operates through the following segments: Ingredients, Consumer Products, and Analytical Reference Standards and Services. The Ingredients segment offers NIAGEN in an ingredient form to partners. The Consumer Products segment sells TRU NIAGEN to improve health by safely raising NAD levels. The Analytical Reference Standards and Services segment provides product regulatory approval and scientific advisory services to the clients in the food, supplement, and pharmaceutical industries. The company was founded by Mark S. Germain and Frank L. Jaksch, Jr. in September 1999 and is headquartered in Irvine, CA.