Co-Diagnostics: Differentiated Multiplex PCR Platform and H3N2 Alignment Drive Favorable Risk–Reward and Buy Rating

Analyst Jason McCarthy from Maxim Group maintained a Buy rating on Co-Diagnostics and keeping the price target at $1.50.

Jason McCarthy has given his Buy rating due to a combination of factors tied to Co-Diagnostics’ differentiated technology and the current flu landscape. He highlights that the company’s Co-Primer chemistry underpins its Logix Smart ABC multiplex test, which can simultaneously detect influenza A, influenza B, and COVID-19, and has now demonstrated strong in silico alignment with the highly problematic H3N2 subclade K. This strain is associated with a particularly severe flu season and reduced vaccine effectiveness, which increases the need for accurate molecular diagnostics and is already generating customer interest in the ABC test’s H3N2 performance.

McCarthy also points to the integration of this test with Co-Dx’s PCR Pro platform, which aims to deliver laboratory-grade PCR accuracy in a compact, point-of-care device at speeds and costs comparable to antigen tests, enabling use across home, clinic, pharmacy, and long-term care settings. He views the ongoing U.S. clinical performance studies of the ABC test on PCR Pro, and the planned 510(k) FDA submission, as key potential catalysts that could expand regulatory clearance beyond current export (CE-marked) use. In his assessment, the combination of proprietary Co-Primer technology, the scalability and usability of PCR Pro, and the heightened demand for reliable flu and respiratory virus testing supports a favorable risk–reward profile for CODX shares, justifying his Buy recommendation.

McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Plus Therapeutics, and SCYNEXIS. According to TipRanks, McCarthy has an average return of -14.2% and a 33.00% success rate on recommended stocks.