H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Arcadia Biosciences (RKDA) today and set a price target of $14. The company’s shares closed yesterday at $4.91.
Selvaraju observed:
“Valuation methodology, risks and uncertainties. Our valuation utilizes a discounted cash flow-based approach that derives a $140M value for RS Wheat, using a 15% discount rate, 30% tax rate and 10% manufacturing spend. This translates into a price per share of $14.00, assuming roughly 10M shares outstanding as of end-1Q20.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.2% and a 27.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arcadia Biosciences with a $14 average price target.
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Based on Arcadia Biosciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.61 million. In comparison, last year the company had a GAAP net loss of $10.62 million.
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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.
