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New York City, May 13, 2019 (GLOBE NEWSWIRE) -- H.C. Wainwright and Maxim Group Estimate Nearly 95% Upside for CODX
New York City, New York – Analysts from H.C. Wainwright and Maxim Group have both given BDA International client company Co-Diagnostics (Nasdaq: CODX) a “Buy” rating in the past few weeks, with an estimated price target nearly double its previous close of $1.03.
The reports included an in-depth analysis of the molecular diagnostics company’s technology, the quality and novelty of their intellectual property, its validation by the LGC partnership, and solutions that it will provide for various diagnostics markets (e.g. infectious disease, agriculture, cancer detection/liquid biopsy, the size and scope of the Indian healthcare market, etc). The size of these markets and abilities to make inroads to generate revenue are also considered, along with the company’s relatively low opex and capital-efficient operations.
Both Wall Street analysts initiated coverage following a recent capital raise and other financing activity that saw Co-Diagnostics eliminate its debt and put enough cash in the bank to provide at least a year’s worth of runway. Prior to the coverage and capital raise, the Vanguard Group Inc hedge fund grew its position in Co-Diagnostics stock by 18.7% during the Q3 2018, according to its most recent 13F filing with the Securities and Exchange Commission (SEC).
With the stock currently trading close to its 52-week low of $0.90, the $2.00 price target represents substantial upside potential and supports the “Buy” rating for those investors on the lookout for underperforming, pre-breakout NASDAQ stocks.
About BDA International, Inc.:
BDA International is an independent global Investor Relations firm offering a wide range of IR-related analysis, research and advisory services. In particular, we provide and are compensated for service packages that include strategic action plans and investor/market perception studies to help entities improve communication with customers and investors, and to increase their visibility. BDA International has received no direct compensation related to this release but its principles may also in some circumstances hold some of shares of client companies in our personal portfolios, including CODX. BDA International accepts sole responsibility for the content and distribution of the foregoing release, which does not contain any previously unpublished or non-public information. Parties interested in learning more about the relationship between BDA and CODX may do so via the contact information at the bottom of this release.
Co-Diagnostics is a client of BDA International. The information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained in this analysis reflect our current judgment and are subject to change without notice. We do not accept any responsibility or liability for any losses, damages or costs arising from an investor’s or other person’s reliance on or use of this analysis. This analysis is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities, nor a recommendation of any security, although members of the BDA may at times hold a position in the company covered within the article. Past gains are not a representative of future gains. The opinions herein contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. When used herein, the words “anticipate,” “intend,” “estimate,” “believe,” “expect,” “plans,” “should,” “potential,” “forecast,” and variations of such words and similar expressions are intended to identify forward-looking statements. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. A company’s actual results could differ materially from those described in any forward-looking statements contained herein. BDA is not a licensed broker, broker dealer, market maker, investment advisor, analyst or underwriter. We recommend that you use the information found herein as an initial starting point for conducting your own research in order to determine your own personal opinion of the companies discussed herein before deciding whether or not to invest. You should seek such investment, tax, financial, accounting or legal advice appropriate for your particular circumstances. Information about many publicly traded companies and other investor resources can be found at www.sec.gov. Investing in securities is speculative and carries risk.
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