H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Chromadex Corp (NASDAQ: CDXC) today and set a price target of $8. The company’s shares closed yesterday at $3.75, close to its 52-week low of $3.19.
Selvaraju said:
“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 3-star analyst with an average return of 1.1% and a 42.9% 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.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDXC in relation to earlier this year.
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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.
