Co-Diagnostics Inc (CODX) Gets a Buy Rating from H.C. Wainwright

By Carrie Williams

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Co-Diagnostics Inc (CODXResearch Report), with a price target of $2. The company’s shares closed last Monday at $1.12, close to its 52-week low of $0.69.

Chen noted:

“Our 12-month price target is based on a comparable universe derived enterprise value-to-sales (EV/ Sales) multiple of 5.7x and projected sales of $0.36 per share for the next 12 months. Risks include, but are not limited to: (1) lower-than-projected uptake of products; (2) inability to maintain regulatory compliance; and (3) inability to develop additional products targeting segments beyond infectious disease in developing markets. Co-Diagnostics, Inc.”

According to TipRanks.com, Chen has 0 stars on 0-5 star ranking scale with an average return of -19.7% and a 24.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Stealth Biotherapeutics Corp, and Aerpio Pharmaceuticals Inc.

Co-Diagnostics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $2.

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The company has a one-year high of $3.77 and a one-year low of $0.69. Currently, Co-Diagnostics Inc has an average volume of 1.27M.

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Co-Diagnostics, Inc. is a molecular diagnostics company, which engages in the development, manufacture, and marketing of diagnostics technology. The company’s products are utilized for tests that are designed using the detection and analysis of nucleic acid molecules.