In a report released today, Brian Nagel from Oppenheimer assigned a Buy rating to Chromadex (CDXC), with a price target of $17.00. The company’s shares closed last Wednesday at $8.72.
According to TipRanks.com, Nagel is a top 25 analyst with an average return of 37.1% and a 75.6% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.
Chromadex has an analyst consensus of Strong Buy, with a price target consensus of $14.50.
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Based on Chromadex’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $14.68 million and GAAP net loss of $7.38 million. In comparison, last year the company earned revenue of $14.35 million and had a GAAP net loss of $5.9 million.
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Chromadex Corp. is a nutraceutical company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It operates through the following segments: Ingredients, Consumer Products, and Analytical Reference Standards and Services. The Ingredients segment offers NIAGEN in an ingredient form to partners. The Consumer Products segment sells TRU NIAGEN to improve health by safely raising NAD levels. The Analytical Reference Standards and Services segment provides product regulatory approval and scientific advisory services to the clients in the food, supplement, and pharmaceutical industries. The company was founded by Mark S. Germain and Frank L. Jaksch, Jr. in September 1999 and is headquartered in Irvine, CA.
