Calyxt (NASDAQ:CLXT)‘s stock had its “buy” rating reaffirmed by Jefferies Group in a research report issued to clients and investors on Thursday. They currently have a $27.00 price target on the stock. Jefferies Group’s target price would indicate a potential upside of 53.93% from the stock’s previous close.
The analysts wrote, “CLXT’s 1st product launch, HOSO, is tracking better than expected & its high- fiber wheat product (significantly more profitable than HOSO) just received non-regulated status. In addition, recent developments around gene-editing on the global regulatory front have been positive and point to a potentially larger TAM. We continue to believe the market is underestimating the value of CLXT’s R&D pipeline and, as such, we reiterate our Buy rating & $27 PT. We remain encouraged by commentary on the HOSO commercialization progress. Mgmt’s HOSO commercialization plan continues to track in line with or better than our previous expectations. We were previously assuming ~50 contracted farmers in 2018, however the company has already contracted with “over 60” farmers thus far, representing ~$11.5K acres of CLXT’s HO soybeans (we were assuming $10K acres in 2018). In addition, farmer retention rates have been very strong (>90%) & repeat growers, on average, are planting >2x their previous acres of CLXT’s HO variety, which bodes well for a successful commercialization. The company remains engaged with about a dozen small to large food company customers on HOSO.””
A number of other research analysts have also recently weighed in on CLXT. ValuEngine raised Calyxt from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Zacks Investment Research raised Calyxt from a “sell” rating to a “hold” rating in a research report on Tuesday, November 28th. Finally, Ladenburg Thalmann Financial Services assumed coverage on Calyxt in a research report on Wednesday, December 20th. They set a “buy” rating and a $34.25 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Calyxt presently has a consensus rating of “Buy” and a consensus target price of $29.05.
Calyxt stock opened at $17.54 on Thursday. Calyxt has a 12-month low of $9.26 and a 12-month high of $31.89. The company has a quick ratio of 13.52, a current ratio of 13.52 and a debt-to-equity ratio of 0.18.
In other news, Director Alain Godard sold 19,825 shares of Calyxt stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $19.65, for a total transaction of $389,561.25. Following the transaction, the director now directly owns 45,325 shares of the company’s stock, valued at approximately $890,636.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Manoj Sahoo sold 10,780 shares of Calyxt stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $19.87, for a total value of $214,198.60. Following the transaction, the insider now directly owns 95,146 shares in the company, valued at $1,890,551.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,830 shares of company stock worth $1,962,360.
Several hedge funds have recently bought and sold shares of the company. American International Group Inc. bought a new stake in Calyxt during the 3rd quarter valued at approximately $133,000. Deutsche Bank AG raised its stake in Calyxt by 151.3% during the 4th quarter. Deutsche Bank AG now owns 18,378 shares of the company’s stock valued at $404,000 after purchasing an additional 11,064 shares during the period. California State Teachers Retirement System bought a new stake in Calyxt during the 3rd quarter valued at approximately $323,000. Schwab Charles Investment Management Inc. bought a new stake in Calyxt during the 3rd quarter valued at approximately $358,000. Finally, Goldman Sachs Group Inc. bought a new stake in Calyxt during the 4th quarter valued at approximately $330,000. 22.35% of the stock is currently owned by hedge funds and other institutional investors.
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Calyxt Company Profile
Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for plants in the United States. It engages in the development of high oleic soybeans, high fiber wheat, herbicide tolerant wheat, powdery mildew resistant wheat, enhanced oil composition and herbicide tolerant canola, enhanced quality and herbicide tolerant alfalfa, late blight resistant potatoes, and cold storable/reduced browning potatoes, as well as enhanced protein composition, drought tolerant, herbicide tolerant, and enhanced yield soybeans.
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