Arcadia Biosciences (RKDA) Receives a Buy from H.C. Wainwright
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Arcadia Biosciences (NASDAQ: RKDA) today and set a price target of $20. The company’s shares closed on Friday at $4.98, close to its 52-week low of $3.60.
“Valuation methodology, risks and uncertainties. Our valuation utilizes a discounted cash flow-based approach that derives a $130M value for RS Wheat, using a 15% discount rate, 30% tax rate and 10% manufacturing spend.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.6% and a 28.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Synergy 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 197.3K.
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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.