ChromaDex (CDXC) PT Lowered to $8 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju lowered the price target on ChromaDex (NASDAQ: CDXC) to $8.00 (from $12.00) while maintaining a Buy rating.

The analyst commented, "In a press release earlier this month, ChromaDex announced its latest product innovation with the U.S. launch of TRU NIAGEN Immune, a first-of-its-kind combination of ChromaDex’s proprietary nicotinamide adenine dinucleotide (NAD)-boosting ingredient NIAGEN (patented nicotinamide riboside or NR), high-quality and proven immune-boosting nutrients (vitamins C, D, and zinc) for the optimal maintenance of aging cells, plus Theracurmin (a superior form of curcumin). TRU NIAGEN Immune is available online in the U.S. in 30-capsule bottles for $37.50 per bottle. Although the initial recommended daily serving of NIAGEN is 300mg, the majority of clinical studies conducted via the ChromaDex External Research Program (CERP) use 1,000mg or more of the ingredient. TRU NIAGEN Immune is intended to be a companion to TRU NIAGEN; it is recommended that both products be taken together for more NAD+ support. TRU NIAGEN Immune comprises the following components: (1) 150mg of NIAGEN to further boost NAD+; (2) 2,000IU (250% daily value) of VegD3, a proprietary form of plant-based vitamin D3 derived from algae vs. animal-sourced lanolin; (3) 20mg (182% daily value) of zinc in two forms, gluconate and citrate, for better absorption; (4) 180mg (200% daily value) of vitamin C produced via fermentation rather than synthetically sourced ascorbic acid; (5) 30mg Theracurmin, a form of curcumin that is 27x more absorbable than regular curcumin. Reiterate Buy rating while lowering PT to $8 from $12, following 4Q results."

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