Wainwright sees slower-than-expected revenue growth for ChromaDex; cuts PT

Niagen Bioscience

29/08/2022 11:54

** H.C.Wainwright lowers PT for ChromaDex Corp  CDXC.O  to
$5.50 from $7 as it expects slower-than-expected revenue growth
for the dietary supplement company
    ** CDXC said earlier this month it expects high single-digit
growth in revenue, driven by its global e-commerce business
    ** Brokerage says revamped strategy should reduce expenses,
but revenue growth trajectory may be slower than anticipated
    ** Brokerage now expects expect $74 mln in revenue for 2022
vs. prior expectation of $80.3 mln
    ** Four out of six analysts covering the stock rate it "buy"
or higher, two "hold"; their median PT is $7
    ** Stock has lost ~60% YTD as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com;))