What happened ChromaDex (NASDAQ: CDXC) was a hit on a slightly downbeat Tuesday for the broader market. Its shares raced nearly 10% higher on a price target increase from an analyst. So what New York-based investment bank H.C. Wainwright lifted its price target on the stock Tuesday. Actually, that's an understatement; that level was shot into the sky, to $16 per share from the previous $7. The company maintains its buy recommendation on ChromaDex. Image source: Getty Images. H.C. Wainwright's upgrade is not the only one in recent days. Last week, Ladenburg Thalmann analyst Jeffrey Cohen cranked his target price on the shares up to $12 from the preceding $8.50, and Brian Nagel from the influential Oppenheimer nearly doubled his from $9 to $17. Both prognosticators have the equivalent of a buy recommendation on the stock. Two major recent factors are behind the sunnier outlooks. First, ChromaDex reported fourth quarter results that, while basically in line with analyst expectations, showed a considerably narrower EBITDA loss compared to the year-ago quarter. Second, and perhaps more important, the company announced that it signed a supply deal with Walmart for the monster retailer to carry its flagship Tru Niagen dietary supplement in 3,000 of its stores. Now what ChromaDex has an active product pipeline and a modest chemicals business, but for now its fortunes are strongly tied to Tru Niagen. So at the moment it's a fairly limited healthcare business. Potential investors should keep an eye on how that pipeline develops. 10 stocks we like better than CHROMADEX CORPORATIONWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and CHROMADEX CORPORATION wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source