In a report released today, James Jang from Maxim Group reiterated a Buy rating on Yield10 Bioscience Inc (YTEN), with a price target of $4.50. The company’s shares closed yesterday at $1.45, close to its 52-week low of $1.12.
“We are lowering our price target to $4.50, from $7, as we now expect seed revenue generation to be pushed out to 2022 from 2020. We believe the Bayer (BAYRY: NR) acquisition of Monsanto has caused delays and although we believe YTEN’s trials will continue to yield positive results, we are taking a more conservative view in terms of commercialization.”
According to TipRanks.com, Jang is a 4-star analyst with an average return of 14.8% and a 46.5% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Nordic American Tanker, and Eagle Bulk Shipping.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Yield10 Bioscience Inc with a $4.50 average price target.
Based on Yield10 Bioscience Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.39 million. In comparison, last year the company had a GAAP net loss of $2.03 million.
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Yield10 Bioscience, Inc. is an agricultural bioscience company, which focuses on the development of technologies to produce step-change improvements in crop yield for food and feed crops to enhance global food security. The company was founded by Anthony J. Sinskey, Simon F. Williams and Oliver P. Peoples in June 1992 and is headquartered in Woburn, MA.