Zacks: Co-Diagnostics Inc (NASDAQ:CODX) Receives Average Recommendation of “Strong Buy” from Brokerages

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

Analysts have set a 12-month consensus price target of $2.00 for the company and are forecasting that the company will post ($0.03) earnings per share for the current quarter, according to Zacks. Zacks has also given Co-Diagnostics an industry rank of 103 out of 256 based on the ratings given to related companies.

Several brokerages recently issued reports on CODX. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday. Maxim Group set a $25.00 target price on Agilysys and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of ACASTI PHARM-TS in a research report on Wednesday, June 26th.

Shares of NASDAQ:CODX opened at $0.87 on Friday. Co-Diagnostics has a 12-month low of $0.69 and a 12-month high of $4.15. The stock’s fifty day moving average is $0.82.

Co-Diagnostics (NASDAQ:CODX) last announced its earnings results on Wednesday, May 15th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). Co-Diagnostics had a negative return on equity of 430.95% and a negative net margin of 19,057.66%. On average, equities research analysts anticipate that Co-Diagnostics will post -0.09 earnings per share 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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