Stifel Nicolaus Lowers Marrone Bio Innovations Price Target to $10.00 (MBII)
Analysts at Stifel Nicolaus decreased their price objective on shares of Marrone Bio Innovations (NASDAQ:MBII) from $16.00 to $10.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 214.47% from the stock’s previous close.
Marrone Bio Innovations (NASDAQ:MBII) opened at 3.15 on Thursday. Marrone Bio Innovations has a 52 week low of $3.15 and a 52 week high of $20.00. The stock has a 50-day moving average of $7.46 and a 200-day moving average of $10.99. The company’s market cap is $76.9 million.
Marrone Bio Innovations (NASDAQ:MBII) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by $0.03. On average, analysts predict that Marrone Bio Innovations will post $-1.77 earnings per share for the current fiscal year.
A number of other firms have also recently commented on MBII. Analysts at Zacks downgraded shares of Marrone Bio Innovations from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. They now have a $6.60 price target on the stock. Separately, analysts at Robert W. Baird downgraded shares of Marrone Bio Innovations from an “outperform” rating to a “neutral” rating in a research note on Friday, August 8th. They now have a $12.00 price target on the stock, down previously from $15.00. Finally, analysts at Piper Jaffray downgraded shares of Marrone Bio Innovations from an “overweight” rating to a “neutral” rating in a research note on Friday, August 8th. They now have a $11.00 price target on the stock, down previously from $19.00. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Marrone Bio Innovations currently has a consensus rating of “Hold” and an average price target of $11.52.
Marrone Bio Innovations, Inc is a provider of bio-based pest management and plant health products. Bio-based products are consists of naturally occurring microorganisms, such as bacteria and fungi, and plant extracts.
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