Canaccord Genuity Reaffirms Their Buy Rating on Marrone Bio (MBII)

By Carrie Williams

Canaccord Genuity analyst Robert Burleson maintained a Buy rating on Marrone Bio (MBIIResearch Report) on February 24 and set a price target of $3.50. The company’s shares closed last Thursday at $2.25.

Burleson has an average return of 61.2% when recommending Marrone Bio.

According to, Burleson is ranked #111 out of 7336 analysts.

Currently, the analyst consensus on Marrone Bio is a Strong Buy with an average price target of $3.17, which is a 31.5% upside from current levels. In a report issued on February 11, Aegis Capital also maintained a Buy rating on the stock with a $3.50 price target.

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Based on Marrone Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $8.83 million and GAAP net loss of $6.06 million. In comparison, last year the company earned revenue of $6.97 million and had a GAAP net loss of $16.37 million.

Based on the recent corporate insider activity of 13 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.