Calyxt (CLXT) Lifted to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Calyxt (NASDAQ:CLXT) from a hold rating to a buy rating in a research note released on Monday, May 28th. They currently have $19.00 price target on the stock.

According to Zacks, “Calyxt, Inc. is a consumer-centric, food- and agriculture-focused company. It researches and develops seeds and food ingredients for agricultural, feed, and food applications as well as offers fat saturation and gluten reduction in soybean oil and wheat. Calyxt, Inc. is based in New Brighton, United States. “

Several other brokerages have also recently commented on CLXT. ValuEngine cut Calyxt from a hold rating to a sell rating in a research note on Wednesday, March 7th. Jefferies Financial Group restated a buy rating and issued a $27.00 target price on shares of Calyxt in a report on Thursday, March 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Calyxt presently has an average rating of Buy and a consensus target price of $27.38.

Calyxt traded up $0.34, hitting $19.49, during midday trading on Monday, MarketBeat Ratings reports. The company’s stock had a trading volume of 70,800 shares, compared to its average volume of 85,393. The company has a current ratio of 17.79, a quick ratio of 17.79 and a debt-to-equity ratio of 0.27. Calyxt has a 12 month low of $9.26 and a 12 month high of $31.89. The stock has a market cap of $535.76 million and a PE ratio of -17.40.

Calyxt (NASDAQ:CLXT) last posted its quarterly earnings data on Monday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.13. Calyxt had a negative return on equity of 60.81% and a negative net margin of 5,930.60%. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.20 million. equities analysts predict that Calyxt will post -1.14 EPS for the current fiscal year.

In other Calyxt news, insider Daniel F. Voytas sold 4,666 shares of the company’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $17.91, for a total value of $83,568.06. Following the sale, the insider now directly owns 4,666 shares in the company, valued at $83,568.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 22,164 shares of company stock worth $362,206 over the last quarter. Company insiders own 2.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CLXT. California State Teachers Retirement System bought a new position in Calyxt in the third quarter valued at about $323,000. Goldman Sachs Group Inc. acquired a new position in Calyxt in the fourth quarter valued at about $330,000. Deutsche Bank AG lifted its stake in Calyxt by 151.3% in the fourth quarter. Deutsche Bank AG now owns 18,378 shares of the company’s stock valued at $404,000 after buying an additional 11,064 shares during the period. Wells Fargo & Company MN lifted its stake in Calyxt by 23.6% in the first quarter. Wells Fargo & Company MN now owns 38,048 shares of the company’s stock valued at $500,000 after buying an additional 7,260 shares during the period. Finally, BlackRock Inc. lifted its stake in Calyxt by 102.8% in the fourth quarter. BlackRock Inc. now owns 740,010 shares of the company’s stock valued at $16,302,000 after buying an additional 375,137 shares during the period. Institutional investors and hedge funds own 21.78% of the company’s stock.

Calyxt Company Profile

Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for plants in the United States. It engages in the development of high oleic soybeans, high fiber wheat, herbicide tolerant wheat, powdery mildew resistant wheat, enhanced oil composition and herbicide tolerant canola, enhanced quality and herbicide tolerant alfalfa, late blight resistant potatoes, and cold storable/reduced browning potatoes, as well as enhanced protein composition, drought tolerant, herbicide tolerant, and enhanced yield soybeans.

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