Chromadex (NASDAQ:CDXC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $4.00 price target on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.31% from the company’s current price.
According to Zacks, “ChromaDex Corporation and its subsidiaries supply phytochemical reference standards and reference materials, related contract services, and products for the dietary supplement, nutraceutical, food and beverage, functional food, pharmaceutical and cosmetic markets. ChromaDex’s core business strategy is to use the intellectual property harnessed by its expertise in the area of natural products and in the creation of reference materials to the industry as the basis for providing new and alternative, green, mass marketable products to its customers. The Company’s main priority is to create industry-accepted information, and to provide products and services to every layer of the functional food, pharmaceutical, personal care and dietary supplement markets. The company markets and sells its products in the United States and Canada. It offers its products through distributors in Europe, South America, Korea, India, Japan, Australia, New Zealand, China, Indonesia, Malaysia, Singapore, Thailand, and Mexico. “
Separately, HC Wainwright set a $7.00 target price on Chromadex and gave the stock a “buy” rating in a report on Wednesday, January 23rd.
Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Chromadex by 53.3% during the fourth quarter. Rhumbline Advisers now owns 48,511 shares of the company’s stock worth $166,000 after buying an additional 16,863 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of Chromadex by 160.5% during the third quarter. Citadel Advisors LLC now owns 44,336 shares of the company’s stock worth $190,000 after buying an additional 27,315 shares in the last quarter. Schwab Charles Investment Management Inc. acquired a new stake in shares of Chromadex during the second quarter worth $267,000. Bank of New York Mellon Corp lifted its holdings in shares of Chromadex by 326.9% during the second quarter. Bank of New York Mellon Corp now owns 101,106 shares of the company’s stock worth $375,000 after buying an additional 77,420 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Chromadex by 113.4% during the second quarter. Northern Trust Corp now owns 119,300 shares of the company’s stock worth $443,000 after buying an additional 63,398 shares in the last quarter. 17.25% of the stock is owned by institutional investors.
Chromadex Company Profile
ChromaDex Corporation operates as a nutraceutical company. The company offers research and quality control products and services to dietary supplements, food, beverages, cosmetic, and pharmaceutical industries; Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide(NAD) level used for healthy aging; Pterostilbene (pTeroPure), a polyphenol and antioxidant used in health related fields; and Immulina, a spirulina extract and compound, which is used for improving human immune function, as well as developing Pterostilbene and caffeine co-crystal ingredients, and anthocyanins ingredients.
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