Calyxt (CLXT) Upgraded to “Buy” by Zacks Investment Research

Calyxt (NASDAQ:CLXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $13.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.42% from the stock’s previous close.

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 equities research analysts have also commented on the stock. Citigroup decreased their price objective on shares of Calyxt from $19.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday. Jefferies Financial Group reissued a “buy” rating and set a $27.00 price objective on shares of Calyxt in a report on Thursday, November 15th. Finally, Goldman Sachs Group assumed coverage on shares of Calyxt in a report on Friday, September 7th. They set a “neutral” rating and a $18.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $21.05.

Shares of Calyxt stock traded up $0.24 during mid-day trading on Thursday, reaching $11.99. 52,469 shares of the stock were exchanged, compared to its average volume of 79,886. The stock has a market capitalization of $382.73 million, a P/E ratio of -10.71 and a beta of 3.44. The company has a quick ratio of 15.01, a current ratio of 15.01 and a debt-to-equity ratio of 0.17. Calyxt has a fifty-two week low of $11.25 and a fifty-two week high of $27.23.

Calyxt (NASDAQ:CLXT) last issued its quarterly earnings data on Wednesday, November 14th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.06. Calyxt had a negative net margin of 6,256.67% and a negative return on equity of 33.08%. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.50 million. On average, equities analysts anticipate that Calyxt will post -0.93 earnings per share for the current year.

In other Calyxt news, insider Daniel F. Voytas sold 4,083 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $16.13, for a total transaction of $65,858.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Manoj Sahoo sold 2,521 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $14.84, for a total transaction of $37,411.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,553 shares of company stock worth $303,275. Insiders own 2.80% of the company’s stock.

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN boosted its stake in shares of Calyxt by 23.6% in the 1st quarter. Wells Fargo & Company MN now owns 38,048 shares of the company’s stock valued at $500,000 after purchasing an additional 7,260 shares during the last quarter. Perkins Capital Management Inc. bought a new position in shares of Calyxt in the 2nd quarter valued at about $833,000. Granite Investment Partners LLC bought a new position in shares of Calyxt in the 2nd quarter valued at about $216,000. BlackRock Inc. boosted its stake in shares of Calyxt by 21.8% in the 2nd quarter. BlackRock Inc. now owns 733,554 shares of the company’s stock valued at $13,696,000 after purchasing an additional 131,265 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of Calyxt in the 2nd quarter valued at about $186,000. 28.42% of the stock is currently owned by hedge funds and other 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 plants in the United States. It engages in the development of high oleic soybeans, high fiber wheat, herbicide tolerant wheat, powdery mildew resistant wheat, improved oil composition canola, herbicide tolerant canola, improved quality alfalfa and herbicide tolerant alfalfa, late blight resistant potatoes, cold storable/reduced browning potatoes, improved protein composition soybeans, drought tolerant soybeans, herbicide tolerant soybeans, and improved yield soybeans.

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