H.C. Wainwright Keeps a Buy Rating on Chromadex Corp (CDXC)


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Chromadex Corp (NASDAQ: CDXC), with a price target of $8. The company’s shares closed on Friday at $3.92.

Selvaraju observed:

“Valuation methodology, risks and uncertainties. We apply a 24x EV- to-EBITDA multiple to 2020 EBITDA per share of $0.45, discounted back at 12%, which yields a price objective of approximately $8.00 per share.”

According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 3.6% and a 47.1% 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 $8.

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Based on Chromadex Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $8.05 million. In comparison, last year the company had a GAAP net loss of $2.76 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.

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