Itaconix (LON:ITX) Shares Up 28.5% Following Analyst Upgrade

Itaconix plc (LON:ITX) was up 28.5% on Friday after Canaccord Genuity Group raised their price target on the stock from GBX 325 to GBX 375. Canaccord Genuity Group currently has a buy rating on the stock. Itaconix traded as high as GBX 151 and last traded at GBX 151. 395,642 shares changed hands during trading, an increase of 2,225% from the average session volume of 17,014 shares. The stock had previously closed at GBX 117.50.

Insider Buying and Selling

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

Itaconix Trading Up 28.5%

The business’s fifty day moving average is GBX 110.91 and its 200-day moving average is GBX 112.16. The firm has a market cap of £20.36 million, a P/E ratio of -14.80 and a beta of 0.97. The company has a debt-to-equity ratio of 24.58, a quick ratio of 0.52 and a current ratio of 3.43.

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.