Itaconix (LON:ITX) Reaches New 12-Month High – What’s Next?

Itaconix plc (LON:ITX) reached a new 52-week high during trading on Friday . The company traded as high as GBX 220 and last traded at GBX 220, with a volume of 66394 shares trading hands. The stock had previously closed at GBX 194.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price objective on shares of Itaconix from GBX 325 to GBX 375 and gave the company a “buy” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 375.

Itaconix Price Performance

The company has a debt-to-equity ratio of 24.58, a current ratio of 3.43 and a quick ratio of 0.52. The stock has a market capitalization of £29.67 million, a price-to-earnings ratio of -21.57 and a beta of 1.04. The stock’s 50 day simple moving average is GBX 157.17 and its 200-day simple moving average is GBX 126.86.

Itaconix Company Profile

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.