Calyxt (NASDAQ:CLXT) Upgraded to Buy by Zacks Investment Research

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Zacks Investment Research upgraded shares of Calyxt (NASDAQ:CLXT) from a hold rating to a buy rating in a research report sent to investors on Thursday, Zacks.com reports. Zacks Investment Research currently has $5.50 target price on the stock.

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. “

A number of other research analysts have also commented on CLXT. National Securities reissued a buy rating and set a $28.00 price target (down from $35.00) on shares of Calyxt in a report on Thursday, August 8th. BidaskClub raised Calyxt from a strong sell rating to a sell rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $18.90.

NASDAQ CLXT traded up $0.19 during trading hours on Thursday, hitting $4.91. The company had a trading volume of 124,546 shares, compared to its average volume of 66,299. Calyxt has a fifty-two week low of $4.03 and a fifty-two week high of $19.30. The company has a quick ratio of 15.94, a current ratio of 15.96 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $5.90 and a 200-day simple moving average of $10.91. The firm has a market cap of $150.85 million, a P/E ratio of -5.35 and a beta of 2.47.

Calyxt (NASDAQ:CLXT) last issued its earnings results on Tuesday, August 6th. The company reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.03. Calyxt had a negative return on equity of 36.21% and a negative net margin of 5,509.93%. The firm had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.30 million. Equities analysts forecast that Calyxt will post -1.11 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. River & Mercantile Asset Management LLP acquired a new position in shares of Calyxt during the second quarter valued at $146,000. Swiss National Bank acquired a new position in shares of Calyxt during the second quarter valued at $228,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Calyxt by 56.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 21,848 shares of the company’s stock valued at $273,000 after purchasing an additional 7,887 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Calyxt by 52.3% during the second quarter. Wells Fargo & Company MN now owns 24,679 shares of the company’s stock valued at $309,000 after purchasing an additional 8,475 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Calyxt by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 34,973 shares of the company’s stock valued at $436,000 after purchasing an additional 13,109 shares during the period. 28.05% of the stock is currently owned by institutional investors.

About Calyxt

Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for agriculture in the United States. It engages in the development of high oleic and low linolenic soybean product candidates; high fiber wheat; improved quality alfalfa product candidates; and cold storable and reduced browning potatoes.

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