H.C. Wainwright analyst Ram Selvaraju maintained a Buy rating on Chromadex Corp (CDXC) today and set a price target of $7. The company’s shares closed on Friday at $3.39, close to its 52-week low of $2.79.
Selvaraju noted:
“Valuation methodology, risks and uncertainties. We apply a 19.9x EV-to-EBITDA multiple applied to our 2020 EBITDA per share estimate of $0.50, discounted back at a 12% rate, which yields a price objective of approximately $7.00 per share. Risks include, but are not limited to: (1) slower-than-projected sales growth; (2) unfavorable clinical data; (3) failure to secure regulatory approval; and (4) inability to achieve market traction with the company’s human health products.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -20.2% and a 21.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chromadex Corp with a $6 average price target.
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The company has a one-year high of $6.63 and a one-year low of $2.79. Currently, Chromadex Corp has an average volume of 188.8K.
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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.
