H.C. Wainwright Thinks Co-Diagnostics Inc’s Stock is Going to Recover

By Jason Carr

In a report released today, Ram Selvaraju 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 yesterday at $0.96, close to its 52-week low of $0.90.

Selvaraju 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.”

According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of -1.8% and a 34.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Co-Diagnostics Inc with a $2 average price target.

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The company has a one-year high of $6.66 and a one-year low of $0.90. Currently, Co-Diagnostics Inc has an average volume of 268.7K.

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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.