Co-Diagnostics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Co-Diagnostics to Neutral from Buy with a price target of $3, down from $6. The company’s revenue declined materially in Q4, the analyst tells investors in a research note. The firm says it has limited visibility to the timing of the company’s Co-Dx PCR Home potential market entry and notes the initial COVID test on this platform is unlikely to help resume sales growth in the near term.