Co-Diagnostics: Boral Capital Raises PT to $10, Maintains Buy Rating

Co-Diagnostics: Boral Capital Raises PT to $10, Maintains Buy Rating

SALT LAKE CITY, July 2, 2025 /PRNewswire/ -- Boral Capital has revised its price target for Co-Diagnostics, Inc. (NASDAQ: CODX) to $10, maintaining a buy rating. This update comes as the company reported its second-quarter 2025 financial results, showing a decline in revenue and an increase in operating expenses.

According to the financial report, Co-Diagnostics' revenue for the second quarter of 2025 stood at $0.2 million, down from $2.7 million in the same period last year. This decline is primarily attributed to the timing of grant revenue recognition. The company also reported operating expenses of approximately $8.2 million, a decrease of 19.1% compared to the prior year. Consequently, the company incurred an operating loss of $8.1 million and a net loss of $7.7 million, representing a loss of $0.23 per fully diluted share [1].

The company's Chief Executive Officer, Dwight Egan, expressed confidence in the progress made towards the development and regulatory clearance of the Co-Dx PCR platform. The platform, which includes the PCR Home™ and PCR Pro™, is expected to be the first of four infectious disease PCR test panels submitted for regulatory clearance. Egan emphasized that the platform's clinical evaluations are on track to begin before the end of 2025 [1].

Despite the financial challenges, Boral Capital remains optimistic about Co-Diagnostics' long-term prospects. The analyst firm believes that the company's unique, patented platform for molecular diagnostics and its focus on point-of-care testing position it well for future growth. The revised price target reflects the firm's belief in the company's ability to successfully navigate the current market conditions and achieve its long-term commercialization goals [1].

For more information on Co-Diagnostics' financial results and Boral Capital's analysis, investors can refer to the company's press release and the analyst's report.

References:
[1] https://www.biospace.com/press-releases/co-diagnostics-inc-reports-second-quarter-2025-financial-results