Zacks Investment Research Upgrades Calyxt (CLXT) to “Buy”

Zacks Investment Research upgraded shares of Calyxt (NASDAQ:CLXT) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $17.00 price target 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 brokerages have also weighed in on CLXT. National Securities initiated coverage on Calyxt in a report on Wednesday, March 6th. They issued a buy rating and a $35.00 price objective on the stock. Citigroup raised their price objective on Calyxt from $13.00 to $16.00 and gave the company a neutral rating in a report on Wednesday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Calyxt presently has an average rating of Buy and a consensus target price of $22.60.

Shares of CLXT stock opened at $14.62 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 18.63 and a current ratio of 18.72. The firm has a market capitalization of $478.07 million, a price-to-earnings ratio of -16.07 and a beta of 2.57. Calyxt has a fifty-two week low of $8.83 and a fifty-two week high of $22.32.

Calyxt (NASDAQ:CLXT) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $1.80 million. Calyxt had a negative return on equity of 31.89% and a negative net margin of 8,089.53%. Sell-side analysts expect that Calyxt will post -1.15 EPS for the current year.

In other Calyxt news, insider Daniel F. Voytas sold 3,977 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $16.00, for a total value of $63,632.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yves J. Ribeill sold 19,980 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.64, for a total value of $332,467.20. Following the completion of the sale, the director now directly owns 55,000 shares of the company’s stock, valued at $915,200. The disclosure for this sale can be found here. Insiders sold a total of 49,625 shares of company stock valued at $838,472 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Calyxt in the 1st quarter worth $172,000. FMR LLC increased its stake in shares of Calyxt by 0.4% in the 1st quarter. FMR LLC now owns 4,903,294 shares of the company’s stock worth $86,249,000 after acquiring an additional 17,440 shares during the last quarter. Granite Investment Partners LLC increased its stake in shares of Calyxt by 87.9% in the 1st quarter. Granite Investment Partners LLC now owns 21,801 shares of the company’s stock worth $383,000 after acquiring an additional 10,196 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Calyxt in the 1st quarter worth $361,000. Finally, Northern Trust Corp increased its position in shares of Calyxt by 9.4% during the 1st quarter. Northern Trust Corp now owns 87,746 shares of the company’s stock worth $1,544,000 after purchasing an additional 7,550 shares during the last quarter. 28.11% of the stock is owned by institutional investors and hedge funds.

Calyxt Company Profile

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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