HC Wainwright Reiterates “$8.00” Price Target for ChromaDex (CDXC)

HC Wainwright set a $8.00 price target on ChromaDex (NASDAQ:CDXC) in a report issued on Monday. The brokerage currently has a buy rating on the stock.

CDXC has been the topic of several other reports. BidaskClub cut ChromaDex from a buy rating to a hold rating in a research note on Tuesday, January 16th. Zacks Investment Research cut ChromaDex from a hold rating to a strong sell rating in a research note on Tuesday, April 17th. Finally, ValuEngine raised ChromaDex from a sell rating to a hold rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $7.50.

Shares of CDXC stock opened at $3.72 on Monday. ChromaDex has a twelve month low of $3.60 and a twelve month high of $3.73. The company has a current ratio of 5.22, a quick ratio of 4.71 and a debt-to-equity ratio of 0.01.

ChromaDex (NASDAQ:CDXC) last issued its quarterly earnings results on Thursday, May 10th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.09). The firm had revenue of $6.57 million during the quarter, compared to analysts’ expectations of $6.50 million. ChromaDex had a negative return on equity of 56.28% and a negative net margin of 70.19%. equities research analysts predict that ChromaDex will post -0.34 earnings per share for the current fiscal year.

In other news, CEO Frank L. Jaksch, Jr. sold 24,578 shares of the stock in a transaction on Tuesday, March 27th. The stock was sold at an average price of $4.60, for a total value of $113,058.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frank L. Jaksch, Jr. bought 9,800 shares of the business’s stock in a transaction dated Wednesday, May 16th. The stock was bought at an average cost of $3.59 per share, for a total transaction of $35,182.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 22,800 shares of company stock worth $82,282. 11.59% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of ChromaDex by 9.8% in the fourth quarter. BlackRock Inc. now owns 111,207 shares of the company’s stock worth $654,000 after acquiring an additional 9,917 shares during the last quarter. Northern Trust Corp grew its stake in shares of ChromaDex by 34.4% in the first quarter. Northern Trust Corp now owns 55,902 shares of the company’s stock worth $235,000 after acquiring an additional 14,297 shares during the last quarter. Deutsche Bank AG grew its stake in shares of ChromaDex by 31,769.4% in the fourth quarter. Deutsche Bank AG now owns 22,946 shares of the company’s stock worth $134,000 after acquiring an additional 22,874 shares during the last quarter. Monashee Investment Management LLC purchased a new stake in shares of ChromaDex in the fourth quarter worth $140,000. Finally, Two Sigma Investments LP purchased a new stake in shares of ChromaDex in the fourth quarter worth $145,000. 9.82% of the stock is currently owned by hedge funds and other institutional investors.

About ChromaDex

ChromaDex Corporation operates as a nutraceutical company. The company offers research and quality control products and services to dietary supplements, food, beverages, cosmetic, and pharmaceutical industries; Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide(NAD) level used for healthy aging; Pterostilbene (pTeroPure), a polyphenol and antioxidant used in health related fields; and Immulina, a spirulina extract and compound, which is used for improving human immune function, as well as developing Pterostilbene and caffeine co-crystal ingredients, and anthocyanins ingredients.

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