Zacks: Bioamber Inc (NYSE:BIOA) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Shares of Bioamber Inc (NYSE:BIOA) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a 1-year consensus price objective of $13.00 for the company, according to Zacks. Zacks has also assigned Bioamber an industry rank of 179 out of 265 based on the ratings given to its competitors.

Separately, Canaccord Genuity reiterated a “buy” rating and set a $16.00 target price on shares of Bioamber in a research report on Thursday, November 5th.

In other Bioamber news, EVP Michael A. Hartmann sold 21,477 shares of the firm’s stock in a transaction that occurred on Thursday, December 3rd. The stock was sold at an average price of $8.11, for a total transaction of $174,178.47. Following the completion of the sale, the executive vice president now owns 123,143 shares in the company, valued at approximately $998,689.73. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jean-Francois Huc sold 27,278 shares of the firm’s stock in a transaction that occurred on Thursday, December 3rd. The shares were sold at an average price of $8.11, for a total value of $221,224.58. Following the sale, the chief executive officer now owns 144,222 shares of the company’s stock, valued at approximately $1,169,640.42. The disclosure for this sale can be found here.

Bioamber (NYSE:BIOA) opened at 6.18 on Monday. Bioamber has a one year low of $4.64 and a one year high of $11.30. The firm has a 50-day moving average price of $7.20 and a 200-day moving average price of $7.19. The stock’s market cap is $159.80 million.

Bioamber (NYSE:BIOA) last released its earnings results on Wednesday, November 4th. The company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.14. On average, equities analysts predict that Bioamber will post ($1.64) earnings per share for the current year.

12 Month Chart for NYSE:BIOA

BioAmber Inc. (NYSE:BIOA) 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 wide range of everyday products, including plastics, resins, food additives and personal care products. The Company is developing three distinct technologies, such as the production of succinic acid through fermentation; the conversion of succinic acid into 1,4 BDO, THF and GBL by catalyst assisted hydrogenation reaction, and the production of adipic acid and other C6 chemical intermediates through fermentation and purification with or without catalytic conversion. BioAmber manufactures and sells bio-succinic acid to the customers in a range of chemical markets. It produces bio-succinic acid in a facility using a 350,000 liter fermenter in Pomacle, France.

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