Calyxt (NASDAQ:CLXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $12.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 15.72% from the company’s current price.
According to Zacks, “Calyxt, Inc. is a consumer-centric, food- and agriculture-focused company. It researches and develops seeds and food ingredients for agricultural, feed, and food applications as well as offers fat saturation and gluten reduction in soybean oil and wheat. Calyxt, Inc. is based in New Brighton, United States. “
Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group reiterated a “buy” rating and issued a $27.00 price target on shares of Calyxt in a research note on Thursday, November 15th. Citigroup decreased their price target on Calyxt from $19.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, November 19th. Finally, Goldman Sachs Group started coverage on Calyxt in a research note on Friday, September 7th. They issued a “neutral” rating and a $18.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $20.85.
Calyxt stock opened at $10.37 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 15.01 and a quick ratio of 15.01. Calyxt has a one year low of $10.21 and a one year high of $27.23.
Calyxt (NASDAQ:CLXT) last released its quarterly earnings results on Wednesday, November 14th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. Calyxt had a negative return on equity of 33.08% and a negative net margin of 6,256.67%. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.50 million. Research analysts predict that Calyxt will post -0.93 EPS for the current year.
In other news, insider Daniel F. Voytas sold 4,666 shares of the stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $16.00, for a total value of $74,656.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Manoj Sahoo sold 2,521 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $14.84, for a total value of $37,411.64. The disclosure for this sale can be found here. Insiders sold 20,553 shares of company stock worth $303,275 over the last three months. Corporate insiders own 2.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in CLXT. Tower Research Capital LLC TRC increased its holdings in shares of Calyxt by 134.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,583 shares of the company’s stock valued at $123,000 after purchasing an additional 3,781 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Calyxt in the second quarter valued at about $186,000. California Public Employees Retirement System acquired a new position in shares of Calyxt in the second quarter valued at about $187,000. Granite Investment Partners LLC acquired a new position in shares of Calyxt in the second quarter valued at about $216,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Calyxt in the third quarter valued at about $309,000. 28.30% of the stock is currently owned by institutional investors and hedge funds.
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, improved oil composition canola, herbicide tolerant canola, improved quality alfalfa and herbicide tolerant alfalfa, late blight resistant potatoes, cold storable/reduced browning potatoes, improved protein composition soybeans, drought tolerant soybeans, herbicide tolerant soybeans, and improved yield soybeans.
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