H.C. Wainwright Thinks Co-Diagnostics’ Stock is Going to Recover


In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Co-Diagnostics (CODX), with a price target of $16.00. The company’s shares closed last Thursday at $7.16, close to its 52-week low of $7.01.

According to TipRanks.com, Chen is a top 100 analyst with an average return of 55.7% and a 46.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Ortho Clinical Diagnostics Holdings, Interpace Diagnostics Group, and HTG Molecular Diagnostics.

Currently, the analyst consensus on Co-Diagnostics is a Moderate Buy with an average price target of $18.00.

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Based on Co-Diagnostics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $27.15 million and net profit of $12.81 million. In comparison, last year the company earned revenue of $108.6K and had a GAAP net loss of $1.74 million.

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Co-Diagnostics, Inc. is a molecular diagnostics company, which engages in the development, manufacture, and marketing of diagnostics technology. The company’s products are utilized for tests that are designed using the detection and analysis of nucleic acid molecules. It also uses its proprietary technology to design tests to locate genetic markers for use in industries other than infectious disease and license the use of those tests to specific customers. The company was founded by Brent C. Satterfield and Dwight Howard Egan on April 18, 2013 and is headquartered in Salt Lake City, UT.

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