In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Chromadex Corp (CDXC – Research Report), with a price target of $7. The company’s shares closed on Friday at $3.78.
“Valuation methodology, risks and uncertainties. We apply a 26.6x EV-to-EBITDA multiple applied to our 2020 EBITDA per share estimate of $0.35, discounted back at a 12% rate, which yields a price objective of approximately $7.00 per share.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.6% and a 38.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Chromadex Corp has an analyst consensus of Moderate Buy, with a price target consensus of $7, implying an 85.2% upside from current levels. In a report issued on March 8, B.Riley FBR also reiterated a Buy rating on the stock.
The company has a one-year high of $5.11 and a one-year low of $2.79. Currently, Chromadex Corp has an average volume of 231.1K.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDXC in relation to earlier this year.
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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.