Co-Diagnostics (CODX) Receives a New Rating from a Top Analyst

In a report released yesterday, Jason McCarthy from Maxim Group assigned a Buy rating to Co-Diagnostics (CODXResearch Report), with a price target of $20.00. The company’s shares closed last Wednesday at $14.34.

According to TipRanks.com, McCarthy is a top 100 analyst with an average return of 58.4% and a 60.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and SELLAS Life Sciences Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Co-Diagnostics with a $25.00 average price target, which is a 74.0% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $30.00 price target.

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The company has a one-year high of $30.99 and a one-year low of $5.57. Currently, Co-Diagnostics has an average volume of 1.61M.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CODX in relation to earlier this year.

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Co-Diagnostics, Inc. is a molecular diagnostics company, which engages in the development, manufacture, and marketing of diagnostics technology. The company’s products are utilized for tests that are designed using the detection and analysis of nucleic acid molecules. It also uses its proprietary technology to design tests to locate genetic markers for use in industries other than infectious disease and license the use of those tests to specific customers. The company was founded by Brent C. Satterfield and Dwight Howard Egan on April 18, 2013 and is headquartered in Salt Lake City, UT.