Equities research analysts at HC Wainwright assumed coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a note issued to investors on Tuesday, June 19th, MarketBeat reports. The firm set a “buy” rating and a $20.00 price target on the basic materials company’s stock. HC Wainwright’s target price points to a potential upside of 156.08% from the stock’s current price.
The analysts wrote, “We are initiating coverage on Buy rating and 12-month price target of $20 per share. Arcadia is a company with a lengthy track record in the generation of productivity traits for crops, including qualities such as drought resistance and nitrogen and water use efficiency. The company’s current focus is on the generation of proprietary enriched consumer ingredients, particularly with its GoodWheat™ brand. GoodWheat is a non-transgenic program aimed at creating a proprietary portfolio of high-fiber Resistant Starch (RS), Reduced Gluten (RG) and Extended Shelf Life wheat varieties. Arcadia intends to capture a greater share of the economics from such products by partnering with consumer products companies that are directly involved in creating products such as breads, cakes, pastries and other foods using its GoodWheat ingredients.””
A number of other research analysts have also commented on RKDA. ValuEngine raised Arcadia Biosciences from a “sell” rating to a “hold” rating in a report on Thursday, April 12th. Piper Jaffray Companies set a $20.00 price target on Arcadia Biosciences and gave the company a “hold” rating in a report on Wednesday, March 14th.
Arcadia Biosciences (NASDAQ:RKDA) last issued its earnings results on Wednesday, May 9th. The basic materials company reported ($4.86) earnings per share for the quarter. The company had revenue of $0.21 million during the quarter. Arcadia Biosciences had a negative return on equity of 259.46% and a negative net margin of 686.10%. research analysts expect that Arcadia Biosciences will post -3.81 EPS for the current year.
An institutional investor recently raised its position in Arcadia Biosciences stock. Renaissance Technologies LLC increased its position in shares of Arcadia Biosciences Inc (NASDAQ:RKDA) by 294.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 552,600 shares of the basic materials company’s stock after acquiring an additional 412,400 shares during the period. Renaissance Technologies LLC owned approximately 25.94% of Arcadia Biosciences worth $152,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 15.20% of the company’s stock.
Arcadia Biosciences Company Profile
Arcadia Biosciences, Inc, an agricultural food ingredient company, develops and commercializes health and nutrition ingredient traits worldwide. The company offers a suite of agricultural productivity traits, including nitrogen use efficiency, water use efficiency and drought tolerance, salinity tolerance, and herbicide tolerance traits.
Receive News & Ratings for Arcadia Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcadia Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.