Itaconix (LON:ITX) Sets New 1-Year High – What’s Next?

Itaconix plc (LON:ITX) shares reached a new 52-week high on Friday . The stock traded as high as GBX 220 and last traded at GBX 220, with a volume of 66394 shares. The stock had previously closed at GBX 194.

Analysts Set New Price Targets

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

Itaconix Stock Performance

The stock’s 50-day moving average price is GBX 159.33 and its 200-day moving average price is GBX 127.51. The company has a current ratio of 3.43, a quick ratio of 0.52 and a debt-to-equity ratio of 24.58. The company has a market capitalization of £29.67 million, a P/E ratio of -21.57 and a beta of 1.04.

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.