HC Wainwright restated their buy rating on shares of BioAmber Inc. (NYSE:BIOA) in a research report report published on Wednesday morning. The firm currently has a $12.00 target price on the biotechnology company’s stock.
A number of other brokerages also recently issued reports on BIOA. Zacks Investment Research downgraded BioAmber from a hold rating to a sell rating in a research report on Tuesday, July 11th. Cowen and Company set a $3.00 price target on BioAmber and gave the stock a hold rating in a research report on Monday, July 17th. Finally, ValuEngine downgraded BioAmber from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. BioAmber currently has an average rating of Hold and an average price target of $6.50.
BioAmber (NYSE:BIOA) opened at $0.43 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.08 and a debt-to-equity ratio of 0.24. BioAmber has a 1 year low of $0.32 and a 1 year high of $6.50.
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A number of hedge funds have recently modified their holdings of BIOA. FMR LLC boosted its position in BioAmber by 18.7% during the first quarter. FMR LLC now owns 1,335,000 shares of the biotechnology company’s stock worth $3,097,000 after purchasing an additional 210,000 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in 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 worth $7,362,000 after purchasing an additional 1,765,579 shares in the last quarter. TD Asset Management Inc. purchased a new position in BioAmber during the second quarter worth approximately $977,000. Bank of New York Mellon Corp raised its holdings 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 holdings 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. 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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