Roth MKM keeps a Buy rating and $8 price target on ChromaDex (CDXC) after the stock fell over 11% yesterday following the company’s 8-K, stating that the decline was “unwarranted” and represents a buying opportunity. Investors have misinterpreted the components of the filing and have wrongfully concluded that ChromaDex faces financial liability as a result of a change in its agreement with Dartmouth, but in fact, the firm sees the amendment as having an “immediate and positive financial impact”, and it is unlikely to have any material negative financial impact in the longer term, the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CDXC:
- ChromaDex 8-K ‘may have been misconstrued’ by market, says Ladenburg
- ChromaDex price target raised to $8 from $6 at Roth MKM
- Biotech Alert: Searches spiking for these stocks today
- ChromaDex price target raised to $8 from $6 at H.C. Wainwright
- ChromaDex Reports Strong Q3 2024 Financial Results
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
