In a report released today, Ben Klieve from National Securities Corp reiterated a Buy rating on Arcadia Biosciences (RKDA), with a price target of $16.00. The company’s shares closed last Monday at $3.31.
According to TipRanks.com, Klieve is a 1-star analyst with an average return of -7.4% and a 35.2% success rate. Klieve covers the Consumer Goods sector, focusing on stocks such as AgroFresh Solutions, Yield10 Bioscience, and S&W Seed Company.
Currently, the analyst consensus on Arcadia Biosciences is a Moderate Buy with an average price target of $16.00.
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Based on Arcadia Biosciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $392K and GAAP net loss of $14.19 million. In comparison, last year the company earned revenue of $370K and had a net profit of $4.45 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. The company’s portfolio of agricultural productivity traits includes Nitrogen Use Efficiency, Water Use Efficiency, Drought Tolerance, Salinity Tolerance and Herbicide Tolerance. It has presence in the United States, Africa, India, the United Arab Emirates, Belgium, France and Canada. The company was founded by Eric J. Rey and John G. Sperling in 2002 and is headquartered in Davis, CA.