Cowen and Company Reiterates Hold Rating for BioAmber Inc. (BIOA)
BioAmber Inc. (NYSE:BIOA)‘s stock had its “hold” rating reaffirmed by equities research analysts at Cowen and Company in a report released on Friday. They currently have a $1.00 target price on the biotechnology company’s stock. Cowen and Company’s price objective indicates a potential upside of 132.56% from the stock’s current price.
Several other research analysts have also commented on BIOA. ValuEngine lowered BioAmber from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised BioAmber from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of BioAmber in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. BioAmber currently has a consensus rating of “Hold” and a consensus target price of $6.50.
Shares of BioAmber (NYSE BIOA) opened at $0.43 on Friday. BioAmber has a twelve month low of $0.32 and a twelve month high of $6.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.03 and a current ratio of 1.08.
A number of hedge funds and other institutional investors have recently modified their holdings of BIOA. NN Investment Partners Holdings N.V. grew its stake in BioAmber by 160.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,864,155 shares of the biotechnology company’s stock valued at $7,362,000 after purchasing an additional 1,765,579 shares in the last quarter. Robecosam AG lifted its position in shares of BioAmber by 82.9% in the third quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock worth $741,000 after buying an additional 670,000 shares during the last quarter. TD Asset Management Inc. acquired a new stake in shares of BioAmber in the second quarter worth about $977,000. FMR LLC lifted its position in shares of BioAmber by 18.7% in the first quarter. FMR LLC now owns 1,335,000 shares of the biotechnology company’s stock worth $3,097,000 after buying an additional 210,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of BioAmber by 336.2% in the second quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock worth $139,000 after buying an additional 41,701 shares during the last quarter. Hedge funds and other institutional investors own 36.28% of the company’s stock.
BioAmber Inc (BioAmber), formerly DNP Green Technology, Inc, is an industrial biotechnology company, which produces sustainable chemicals. The Company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstocks into sustainable chemicals that are replacements for petroleum-derived chemicals, which are used in a range of everyday products, including plastics, food additives and personal care products.
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