Marrone Bio (MBII) Initiated with a Buy at Lake Street

In a report issued on April 27, Ben Klieve from Lake Street initiated coverage with a Buy rating on Marrone Bio (MBIIResearch Report) and a price target of $3.00. The company’s shares closed last Thursday at $1.74.

Klieve has an average return of 16.2% when recommending Marrone Bio.

According to TipRanks.com, Klieve is ranked #251 out of 7489 analysts.

Marrone Bio has an analyst consensus of Strong Buy, with a price target consensus of $3.50, a 93.4% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $3.50 price target.

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The company has a one-year high of $2.90 and a one-year low of $0.69. Currently, Marrone Bio has an average volume of 633.7K.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MBII in relation to earlier this year.

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Marrone Bio Innovations, Inc. engages in the provision of bio-based pest management and plant health products for the agricultural and water treatment markets. Its brand includes regalia, bio-tam, grandevo, venerate and majestene. The company was founded by Pamela G. Marrone on June 15, 2006 and is headquartered in Davis, CA.