In a report released today, Akshay Jagdale from Jefferies reiterated a Buy rating on Calyxt Inc (CLXT), with a price target of $27. The company’s shares opened today at $11.90, close to its 52-week low of $11.25.
Jagdale wrote:
“3Q results were better than we were expecting with SG&A expenses & cash burn rate each below our projections. While the departure of the previous CEO during the qtr was unexpected, we believe new CEO Jim Blome’s background is well suited to steer CLXT’s strategic focus going forward & we remain encouraged that HOSO commercialization plans continue to track in line with or better than initial guidance. We reiterate our Buy rating & $27 PT.”
According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 3.0% and a 50.8% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and J & J Snack Foods.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Calyxt Inc with a $22.50 average price target.
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The company has a one-year high of $27.23 and a one-year low of $11.25. Currently, Calyxt Inc has an average volume of 62.75K.
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Calyxt, Inc. is a consumer-centric, food and agriculture focused company. It engages in the development of specialty food ingredients, such as healthier oils, high fiber wheat, and food crops with desirable traits, such as herbicide tolerance. The company provides healthier food ingredients for consumers and agriculturally advantageous traits for farmers.
