Calyxt Reports Record Fourth Quarter and Full Year 2019 Financial Results
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March 5, 2020 7:15 PM EST
Goldman Sachs analyst Adam Samuelson downgraded Calyxt Inc. (NASDAQ: CLXT) from Buy to Neutral with a price target of $7.00 (from $19.00).
For an analyst ratings summary and ratings history on Calyxt Inc. click here. For more ratings news on Calyxt Inc. click here.
Shares of Calyxt Inc. closed at $6.56 yesterday.
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March 5, 2020 7:17 AM EST
Calyxt (NASDAQ: CLXT) reported Q4 EPS of ($0.37), $0.04 worse than the analyst estimate of ($0.33). Revenue for the quarter came in at $3.8 million versus the consensus estimate of $3.73 million.
Fourth Quarter 2019 Financial Results
Revenue increased to $3.8 million, entirely from increased sales volumes of HO soybean oil and soybean meal. HO soybean oil revenue represented 32 percent of total revenue in the period.Cost of goods sold increased to $5.4 million, reflecting the cost of product sold in the period.Gross margin as reported decreased $1.7 million, reflecting the higher costs we have experienced at...
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