ChromaDex (NASDAQ:CDXC) Price Target Raised to $8.00

ChromaDex (NASDAQ:CDXC) had its price objective upped by Roth Mkm from $6.00 to $8.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, HC Wainwright upped their price target on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

ChromaDex Stock Performance

CDXC traded down $0.27 during trading on Wednesday, reaching $6.50. The stock had a trading volume of 979,303 shares, compared to its average volume of 510,949. The stock has a market cap of $496.49 million, a PE ratio of 650.00 and a beta of 1.88. ChromaDex has a one year low of $1.32 and a one year high of $7.08. The business has a 50-day moving average of $3.83 and a 200-day moving average of $3.33.

ChromaDex (NASDAQ:CDXC) last released its earnings results on Thursday, October 31st. The company reported $0.02 EPS for the quarter. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. The business had revenue of $25.58 million for the quarter, compared to analysts’ expectations of $23.70 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Equities research analysts forecast that ChromaDex will post 0.02 EPS for the current fiscal year.

Insider Transactions at ChromaDex

In other news, Director Kristin Patrick sold 23,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.57, for a total transaction of $82,110.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.64% of the stock is currently owned by company insiders.

Institutional Trading of ChromaDex

A number of institutional investors have recently modified their holdings of CDXC. OneDigital Investment Advisors LLC lifted its holdings in ChromaDex by 5.5% in the third quarter. OneDigital Investment Advisors LLC now owns 59,414 shares of the company’s stock worth $217,000 after buying an additional 3,097 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of ChromaDex during the second quarter valued at approximately $27,000. The Manufacturers Life Insurance Company bought a new stake in shares of ChromaDex during the second quarter valued at approximately $31,000. Merriman Wealth Management LLC purchased a new stake in ChromaDex in the second quarter worth approximately $32,000. Finally, Lazard Asset Management LLC purchased a new stake in ChromaDex in the first quarter worth approximately $43,000. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

About ChromaDex

ChromaDex Corporation operates as a bioscience company focusing on developing healthy aging products. The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services. It researches nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers and distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.