In a report released today, Jeff Van Sinderen from B.Riley FBR reiterated a Buy rating on Chromadex Corp (CDXC). The company’s shares opened today at $3.52.
Van Sinderen noted:
“CDXC reported 4Q results AMC on 3/7. Revenue was in-line with our/consensus expectations. Of utmost importance, TRU NIAGEN consumer product sales were up 143% to $6.46M that was above our estimate of $6.27M. E-comm drove marketing efficiency up 820bps sequentially. AEBITDA was slightly below, as the company wound down sales of two ingredients that negatively impacted GM. Looking at FY19, one area of management’s focus is the potential to build sales within the fitness and sports markets, and as the company pointed out, dozens of NBA players, football teams and other athletes are taking TRU NIAGEN and contacting the company with positive feedback. Consumers within these markets are more concerned with the healing and cell repair benefits than the anti-aging benefits.”
According to TipRanks.com, Sinderen has 0 stars on 0-5 star ranking scale with an average return of -3.8% and a 40.4% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Steven Madden, and Verso Corp.
Chromadex Corp has an analyst consensus of Moderate Buy, with a price target consensus of $7, implying a 98.9% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $7 price target.
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Based on Chromadex Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.22 million. In comparison, last year the company had a GAAP net loss of $8.82 million.
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Chromadex Corp. engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It operates through the following segments: Ingredients, Consumer Products, and Core Standards & Contract Services. The Ingredients segment offers developing and commercializing proprietary-based ingredient technologies.
