BioAmber Inc. (BIOA) Given “Hold” Rating at Cowen and Company
BioAmber Inc. (NYSE:BIOA)‘s stock had its “hold” rating restated by investment analysts at Cowen and Company in a research report issued to clients and investors on Friday. They presently have a $1.00 target price on the biotechnology company’s stock. Cowen and Company’s price objective would indicate a potential upside of 135.29% from the company’s previous close.
BIOA has been the topic of several other research reports. ValuEngine lowered shares of BioAmber from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded shares of BioAmber from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of BioAmber in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. BioAmber has an average rating of “Hold” and an average target price of $6.50.
Shares of BioAmber (NYSE BIOA) opened at $0.43 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.03 and a debt-to-equity ratio of 0.24. BioAmber has a 52-week low of $0.32 and a 52-week high of $6.50.
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A number of institutional investors have recently modified their holdings of BIOA. FMR LLC raised its stake in shares of BioAmber by 18.7% during the first quarter. FMR LLC now owns 1,335,000 shares of the biotechnology company’s stock valued at $3,097,000 after acquiring an additional 210,000 shares during the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of BioAmber by 160.7% during 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 acquiring an additional 1,765,579 shares during the last quarter. TD Asset Management Inc. bought a new position in shares of BioAmber during the second quarter valued at $977,000. Bank of New York Mellon Corp raised its stake in shares of BioAmber by 336.2% during the second quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock valued at $139,000 after acquiring an additional 41,701 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of BioAmber by 9.9% during the second quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock valued at $780,000 after acquiring an additional 27,278 shares during the last quarter. Hedge funds and other institutional investors own 36.28% of the company’s stock.
BioAmber Company Profile
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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