Itaconix (LON:ITX) Hits New 52-Week High – What’s Next?

Shares of Itaconix plc (LON:ITX) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 175 and last traded at GBX 162, with a volume of 54810 shares. The stock had previously closed at GBX 155.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price target on shares of Itaconix from GBX 325 to GBX 375 and gave the company a “buy” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Itaconix has a consensus rating of “Buy” and a consensus target price of GBX 375.

Itaconix Stock Up 4.2%

The company has a market capitalization of £21.85 million, a price-to-earnings ratio of -15.88 and a beta of 0.97. The company has a debt-to-equity ratio of 24.58, a current ratio of 3.43 and a quick ratio of 0.52. The firm’s fifty day moving average price is GBX 116.28 and its 200-day moving average price is GBX 114.03.

Insiders Place Their Bets

In other news, insider Peter Nieuwenhuizen bought 3,400 shares of the stock in a transaction on Tuesday, May 5th. The stock was acquired at an average price of GBX 109 per share, with a total value of £3,706. 77.49% of the stock is owned by corporate insiders.

About Itaconix

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.