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Fly News Breaks for September 10, 2018
CDXC
Sep 10, 2018 | 07:50 EDT
H.C. Wainwright analyst Raghuram Selvaraju views the recent pullback in shares of ChromaDex as unwarranted and he sees an attractive entry point at current levels. The analyst points out that ChromaDex is not a party to the SEC's charges over long-running fraudulent schemes, and that the company is not among the entities pinpointed in the complaint. ChromaDex was merely a target of the market manipulation scheme, Selvaraju tells investors in a research note. Further, the analyst believes ChromaDex stock was more vulnerable to these kinds of schemes when the shares were traded over-the-counter, which is no longer the case today. He reiterates a Buy rating on the stock with an $8 price target.
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