Brokerages Set Chromadex Corp (NASDAQ:CDXC) Target Price at $6.00

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Chromadex Corp (NASDAQ:CDXC) has been given an average recommendation of “Buy” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.00.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Chromadex from a “buy” rating to a “hold” rating in a report on Thursday, May 14th. ValuEngine raised Chromadex from a “hold” rating to a “buy” rating in a report on Friday, March 13th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Chromadex in a research note on Tuesday, May 12th. B. Riley reaffirmed a “buy” rating on shares of Chromadex in a research note on Monday, March 9th. Finally, Oppenheimer started coverage on Chromadex in a research note on Wednesday, May 13th. They issued a “buy” rating and a $6.00 price target for the company.

CDXC stock traded up $0.04 during midday trading on Wednesday, reaching $4.81. 199,600 shares of the company were exchanged, compared to its average volume of 444,141. Chromadex has a one year low of $2.50 and a one year high of $5.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.01 and a quick ratio of 1.24. The firm has a market capitalization of $293.26 million, a price-to-earnings ratio of -9.33 and a beta of 1.62. The business has a 50-day moving average price of $4.59 and a two-hundred day moving average price of $4.02.

Chromadex (NASDAQ:CDXC) last posted its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. Chromadex had a negative return on equity of 132.48% and a negative net margin of 58.73%. The company had revenue of $14.35 million during the quarter, compared to the consensus estimate of $13.76 million. As a group, analysts anticipate that Chromadex will post -0.41 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CDXC. Citigroup Inc. raised its stake in Chromadex by 54.2% during the fourth quarter. Citigroup Inc. now owns 8,223 shares of the company’s stock worth $35,000 after acquiring an additional 2,892 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Chromadex by 123.1% during the first quarter. BNP Paribas Arbitrage SA now owns 12,723 shares of the company’s stock worth $41,000 after acquiring an additional 7,019 shares in the last quarter. Sargent Investment Group LLC acquired a new position in Chromadex during the fourth quarter worth about $52,000. Insight 2811 Inc. acquired a new position in Chromadex during the fourth quarter worth about $52,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Chromadex by 92.5% during the first quarter. Alliancebernstein L.P. now owns 20,600 shares of the company’s stock worth $67,000 after purchasing an additional 9,900 shares during the last quarter. 21.26% of the stock is owned by institutional investors and hedge funds.

About Chromadex

ChromaDex Corporation operates as a nutraceutical company. The company offers Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide (NAD) level used for healthy aging; and Immulina, a spirulina extract and compound, which is used for improving human immune function.

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