Co-Diagnostics

CODX · NASDAQ

$0.6473−$0.0187 (−2.81%)TodayMarket closed · Oct 20, 7:21 PM ET

Prev close $0.666

CODX analyst rating

HoldConsensus of 3 analysts over the last 12 months. 33% rate it a buy.

Strong buy0
Buy1
Hold2
Underperform0
Sell0

12-month price target · 3 analysts

Average $4.08 (+530.3% upside)

Low: $4.04
Now: $0.6473
High: $4.20

Upgrades and downgrades

The latest rating actions, newest first

CODX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Maxim Group	Jan 23, 2026	Downgrade	Buy → Hold	—	27%
Maxim Group	Nov 26, 2025	Initiates	Buy	$1.50	27%
HC Wainwright & Co.	Nov 24, 2025	Maintains	Neutral	—	40%
D. Boral Capital	Oct 28, 2025	Maintains	Buy	$3.00	29%

The case for and against

Updated Apr 17, 2026

Bull case

Co-Diagnostics Inc. is positioned positively within the expanding market for respiratory infectious disease diagnostics, particularly in the Middle East, driven by significant investments in the Kingdom of Saudi Arabia. The establishment of a joint venture with Arabian Eagle Manufacturing to commercialize Co-Dx technologies across the region signals strategic growth opportunities, although immediate financial impacts may be limited. Additionally, the company's development of proprietary instruments for its Co-Dx PCR platform enhances its offerings and may lead to improved operational efficiency and potential market differentiation moving forward.

Bear case

Co-Diagnostics Inc faces significant risks that could hinder its financial performance and overall viability, including potential failures in clinical evaluations, regulatory clearance, and commercial success against competition, all leading to potential dilution issues for shareholders. In the third quarter of 2025, the company reported a modest revenue of $145,000 while incurring a substantial net loss of $5.9 million, equating to a loss of $0.16 per share. These financial metrics, coupled with concerns about future fundraising becoming more dilutive and less favorable, contribute to a negative outlook for Co-Diagnostics's stock.

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