Co-Diagnostics(CODX) has a bright future ahead
Co-Diagnostics prides itself on producing an easier-to-use molecular diagnostic test known as the Logix Smart Coronavirus COVID-19 test. The company has received a CE mark approval from the European Union to make this test commercially available. With the coronavirus spreading rapidly, the demand for a molecular diagnostic test will increase, and in turn, will benefit Co-Diagnostics. Co-Diagnostics currently has seen an impressive 221% gain in the past month sitting at its current price of $9.33 and should be expecting more positives in the future.
Notably, Co-Diagnostics currently has a Zacks Rank #2. The Zacks Consensus Estimate for its next-quarter earnings has moved up 28.6% over the past 60 days. Co-Diagnostics expected earnings growth rate for the next quarter is 44.4%. Holding this stock would be beneficial since it has high potential as the coronavirus continues to spread.