Itaconix (LON:ITX) Reaches New 1-Year High – Still a Buy?

Itaconix plc (LON:ITX) reached a new 52-week high during trading on Friday . The company traded as high as GBX 218 and last traded at GBX 208, with a volume of 110443 shares trading hands. The stock had previously closed at GBX 197.50.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their target price on shares of Itaconix from GBX 325 to GBX 375 and gave the stock a “buy” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 375.

Itaconix Stock Performance

The firm has a market capitalization of £28.05 million, a price-to-earnings ratio of -20.39 and a beta of 0.97. The company has a 50-day moving average of GBX 139.79 and a 200-day moving average of GBX 121.33. The company has a current ratio of 3.43, a quick ratio of 0.52 and a debt-to-equity ratio of 24.58.

Itaconix Company Profile

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.