H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Chromadex Corp (CDXC) today and set a price target of $7. The company’s shares closed yesterday at $3.20, close to its 52-week low of $2.79.
Selvaraju wrote:
“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.”
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -15.8% and a 24.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Chromadex Corp is a Moderate Buy with an average price target of $7.
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Based on Chromadex Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $8.61 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.
