Co-Diagnostics shares surge 21.29% intraday after Maxim Group initiates coverage with $1.50 buy rating.

Co-Diagnostics surged 21.29% intraday after Maxim Group initiated coverage with a "Buy" rating and a $1.50 price target, implying over 300% upside from its $0.35 level. The firm highlighted the company’s PCR Pro point-of-care platform, a "paradigm-shifting" diagnostics tool, and potential value-creating events like the CoSara joint venture spinout in India. Despite a recent Q3 revenue decline to $0.1 million and a $0.16 loss per share, Maxim’s endorsement—emphasizing the platform’s affordability and global market opportunities—sparked immediate optimism. The stock’s sharp intraday rally aligned with the analyst’s bullish thesis, overshadowing near-term earnings concerns.