Canaccord Genuity Group Forecasts Strong Price Appreciation for Itaconix (LON:ITX) Stock

Itaconix (LON:ITX) had its target price upped by equities researchers at Canaccord Genuity Group from GBX 325 to GBX 375 in a report issued on Friday,London Stock Exchange reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 158.80% from the company’s previous close.

Itaconix Stock Performance

LON:ITX opened at GBX 144.90 on Friday. The firm’s fifty day simple moving average is GBX 110.04 and its 200-day simple moving average is GBX 111.89. The company has a quick ratio of 0.52, a current ratio of 3.43 and a debt-to-equity ratio of 24.58. The stock has a market cap of £19.54 million, a PE ratio of -14.21 and a beta of 0.97. Itaconix has a fifty-two week low of GBX 97 and a fifty-two week high of GBX 150.

Insider Transactions at Itaconix

In related news, insider Peter Nieuwenhuizen purchased 3,400 shares of Itaconix stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of GBX 109 per share, for a total transaction of £3,706. Company insiders own 77.49% of the company’s stock.

Itaconix Company Profile

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.