Zacks Investment Research upgraded shares of Bioamber (NYSE:BIOA) from a sell rating to a hold rating in a research report sent to investors on Monday morning.
According to Zacks, “BioAmber Inc. is a bio-based chemicals company. It produces and sells bio-succinic acid. The company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstock into chemicals for use in products including plastics, resins, food additives and personal care products. It operates in France, China, Canada, and the United States. BioAmber Inc. is based in Plymouth, Minnesota. “
Several other brokerages have also recently commented on BIOA. Cowen reaffirmed a hold rating and set a $1.00 target price on shares of Bioamber in a report on Friday, November 10th. ValuEngine cut shares of Bioamber from a sell rating to a strong sell rating in a report on Friday, December 1st. Finally, HC Wainwright reaffirmed a buy rating and set a $12.00 target price on shares of Bioamber in a report on Wednesday, November 8th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Bioamber currently has an average rating of Hold and a consensus target price of $6.50.
Several institutional investors and hedge funds have recently made changes to their positions in BIOA. Bank of New York Mellon Corp increased its stake in 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 valued at $139,000 after acquiring an additional 41,701 shares during the last quarter. Vanguard Group Inc. increased its stake in Bioamber by 9.9% in 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. FMR LLC increased its stake in Bioamber by 1.9% in the second quarter. FMR LLC now owns 1,360,000 shares of the biotechnology company’s stock valued at $3,495,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Robecosam AG increased its stake in Bioamber by 82.9% in the third quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock valued at $741,000 after acquiring an additional 670,000 shares during the last quarter. 28.70% of the stock is currently owned by institutional investors.
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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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