ChromaDex Corporation (CDXC), a nutraceutical company, launched its flagship healthy aging nutrient Tru Niagen® in 3,800 Walmart stores across the United States. Shares were trading around 7% higher in early trade on Tuesday at the time of writing.
Walmart Inc. (WMT) is the first major retailer to offer Tru Niagen® in its stores. The nutrient will be offered in two serving sizes, 100mg, and 300mg, and will also be available online with same-day delivery and pick-up options at select locations.
Tru Niagen® is a distinctive form of vitamin B3 that is clinically proven to enhance NAD+, a vital coenzyme, naturally produced in the body and said to reduce to up to 50% in the 40-60 years age group. A 300gm daily serving of the nutrient is said to increase NAD+ levels by 40 – 50%, thereby reducing the impact of aging and daily wear and tear on the body, and helping consumers Age Better®.
Before the launch, Niagen had acquired all of the necessary regulatory approvals. (See ChromaDex stock analysis on TipRanks)
Following the launch, H.C. Wainwright analyst Ram Selvaraju maintained a Buy rating on the stock with a price target of $11, which implies 11.8% upside potential to current levels.
Selvaraju said, “ChromaDex expects continued, steady revenue growth driven by its global e-commerce business, as well as existing and new strategic partners. We continue to expect positive impact on top-line growth driven by ChromaDex’s relationships with Watsons, Walmart and Nestlé Health Sciences.”
Consensus among analysts is a Strong Buy based on 4 unanimous Buys. The CDXC average analyst price target stands at $14.50 and implies upside potential of 47.3% to current levels. Shares have gained around 93% year-to-date.
Related News:
Vulcan Inks $1.294B Cash Deal to Buy U.S. Concrete
Biogen’s ADUHELM Receives Accelerated Approval from FDA; Shares Soar 38%
UiPath Earnings Preview: Here’s What to Watch For
