Zacks: Co-Diagnostics Inc (NASDAQ:CODX) Given $2.00 Average Target Price by Analysts

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Co-Diagnostics Inc (NASDAQ:CODX) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus price objective of $2.00 for the company and are predicting that the company will post ($0.03) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Co-Diagnostics an industry rank of 102 out of 256 based on the ratings given to its competitors.

A number of research analysts recently issued reports on CODX shares. HC Wainwright began coverage on shares of Co-Diagnostics in a report on Monday, March 11th. They set a “buy” rating and a $2.00 price objective for the company. Maxim Group began coverage on shares of Co-Diagnostics in a research note on Tuesday, April 9th. They issued a “buy” rating and a $2.00 price target on the stock. Finally, Zacks Investment Research raised shares of Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Wednesday, June 12th.

An institutional investor recently raised its position in Co-Diagnostics stock. Vanguard Group Inc raised its stake in Co-Diagnostics Inc (NASDAQ:CODX) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,342 shares of the company’s stock after buying an additional 15,027 shares during the quarter. Vanguard Group Inc’s holdings in Co-Diagnostics were worth $251,000 at the end of the most recent reporting period. 10.63% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CODX traded up $0.03 during trading on Wednesday, reaching $0.78. 42,759 shares of the stock traded hands, compared to its average volume of 599,760. The firm’s 50-day moving average is $0.86. Co-Diagnostics has a fifty-two week low of $0.69 and a fifty-two week high of $4.30.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). Co-Diagnostics had a negative net margin of 19,057.66% and a negative return on equity of 430.95%. On average, analysts forecast that Co-Diagnostics will post -0.09 EPS for the current year.

Co-Diagnostics Company Profile

Co-Diagnostics, Inc, a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. Co-Diagnostics, Inc was founded in 2013 and is headquartered in Salt Lake City, Utah.

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