D. Boral Capital Reaffirms Buy Rating for Co-Diagnostics Stock with $10.00 Price Target

D. Boral Capital analyst Jason Kolbert maintains a "Buy" rating for Co-Diagnostics (CODX) with a $10.00 12-month price target. The analyst's decision reflects continued confidence in the company's business prospects. Co-Diagnostics develops and commercializes molecular technologies for various diagnostic tests, including tuberculosis, Zika, and HIV. The average target price for CODX is $5.50, with an average brokerage recommendation of 2.5, indicating "Outperform" status.

Co-Diagnostics (CODX) experienced a significant intraday surge of 27.28% on August 15, 2025, reaching $0.3378, following a pivotal earnings call that highlighted progress in clinical trials and regulatory pathways [1]. The stock's volatility, ranging from $0.3116 to $0.38, underscores the market's optimism and uncertainty surrounding the company's prospects.

The earnings call optimism and clinical trial progress were key drivers of CODX's stock performance. CEO Dwight Eagan outlined a 2025 regulatory milestone for the Kodiak PCR platform, including FDA clearance for four tests [1]. Despite a Q2 revenue drop to $0.2 million and a net loss of $7.7 million, the company's cash reserves of $13.4 million and grant funding bolstered investor sentiment [1]. The company's strategic partnerships with the NIH and the Gates Foundation further fueled investor hope, particularly in global markets like India and Africa [1].

Technical analysis indicates mixed signals for CODX. The RSI at 40.57 suggests oversold conditions, while the 200-day average at $0.5536 remains a distant hurdle [1]. Traders should monitor the 0.2723–0.2927 resistance cluster from the 200D MA and the 0.2515–0.2524 support zone. A breakout above $0.2927 could trigger a short-term rally, but the long-term bearish trend and weak fundamentals suggest caution [1].

Analysts have shown continued confidence in CODX. D. Boral Capital analyst Jason Kolbert maintains a "Buy" rating with a $10.00 12-month price target [2]. The analyst's decision reflects optimism in the company's business prospects. The average target price for CODX is $5.50, with an average brokerage recommendation of 2.5, indicating "Outperform" status [2].

CODX's stock performance after the 27% intraday surge shows mixed results. While the stock experienced a positive surge, it failed to maintain the momentum over the short and medium term. The 3-day win rate was 43.71%, the 10-day win rate was 40.15%, and the 30-day win rate was 38.84%, indicating a higher probability of positive returns in the immediate aftermath of the surge. However, the returns declined significantly over the longer term, with a 10-day return of -3.28% and a 30-day return of -7.42% [1].

CODX's volatility warrants cautious optimism amid regulatory hurdles. The company's clinical trial timelines and global partnerships offer upside potential, but the Q2 revenue collapse and $7.7M net loss underscore operational risks. Investors should prioritize monitoring the $0.2927 resistance level and the $0.2515 support zone, alongside updates on FDA clearance and grant funding [1].

In conclusion, Co-Diagnostics' recent stock performance reflects a fragile balance between regulatory progress and financial fragility. While the company's clinical trial timelines and global partnerships offer upside potential, the Q2 revenue collapse and $7.7M net loss underscore operational risks. Investors should closely monitor the stock's technical indicators and regulatory updates.

References:
[1] https://www.ainvest.com/news/diagnostics-codx-surges-28-98-intraday-volatile-rally-regulatory-hurdles-clinical-hopes-2508/
[2] https://www.quiverquant.com/news/New+Analyst+Forecast%3A+%24CODX+Given+%2410.0+Price+Target