.jpg "Arcadia Biosciences Receives a New Rating from H.C. Wainwright")
H.C. Wainwright analyst Ram Selvaraju initiated coverage with a Buy rating on Arcadia Biosciences (NASDAQ: RKDA) today and set a price target of $20. The company’s shares closed yesterday at $8.16, close to its 52-week low of $3.60.
Selvaraju observed:
“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.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 2.4% and a 39.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Arcadia Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $20.
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The company has a one-year high of $66.56 and a one-year low of $3.60. Currently, Arcadia Biosciences has an average volume of 483.6K.
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Arcadia Biosciences, Inc. is an agricultural biotechnology company which engages in the development of agricultural products for the improvement of the environment and human health. It uses screening, breeding, and biotechnology techniques to create agricultural products for consumers, processors, and farmers.
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