Why Co-Diagnostics Stock Slipped Today
An analyst price target cut was the impetus behind Co-Diagnostics' (NASDAQ: CODX) share price drop on Monday. The biotech's stock lost nearly 4% of its value that day; what didn't help was that the cut was preceded by a recommendation downgrade from a different prognosticator.
Co-Diagnostics is now worth $9 per share, in the estimation of H.C. Wainwright's Raghuram Selvaraju. Previously, the analyst had put a price tag of $12 on the biotech, which is best known to many for its coronavirus diagnostic products.
At least Selvaraju left his buy recommendation on the specialty healthcare company intact. The same can't be said for Sidoti's prognosticator James Sidoti, who downgraded his take on the stock from buy to neutral on Friday morning, at a price target of $5 per share.
Source Fool.com
