Canaccord Genuity Boosts Ecosynthetix (TSE:ECO) Price Target to C$4.00

Ecosynthetix (TSE:ECO) had its price objective upped by equities research analysts at Canaccord Genuity from C$2.50 to C$4.00 in a research note issued on Friday, BayStreet.CA reports. Canaccord Genuity’s target price suggests a potential upside of 19.76% from the company’s previous close.

Shares of ECO traded down C$0.01 during mid-day trading on Friday, reaching C$3.34. The company’s stock had a trading volume of 3,950 shares, compared to its average volume of 125,282. The company has a fifty day moving average price of C$3.18. The company has a market cap of $194.99 million and a P/E ratio of -115.17. Ecosynthetix has a 1 year low of C$1.55 and a 1 year high of C$3.45. The company has a debt-to-equity ratio of 2.77, a quick ratio of 24.62 and a current ratio of 26.58.

Ecosynthetix (TSE:ECO) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C($0.01) earnings per share for the quarter. The firm had revenue of C$5.94 million for the quarter. Sell-side analysts predict that Ecosynthetix will post -0.01 EPS for the current year.

About Ecosynthetix

EcoSynthetix Inc, a renewable chemicals company, develops and commercializes bio-based technologies that are used as replacement solutions for synthetic, petrochemical-based adhesives, and other related products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers EcoMer biomonomer for use in pressure sensitive adhesives, ink, toner resins, and paints; EcoSphere biolatex used as coating binder for paper and paperboard; EcoStix, a family of pressure-sensitive adhesives, which include customizable resin grades and formulated grades; and DuraBind engineered biopolymers enable manufacturers of particle board, MDF, veneers, and laminates to decrease the amount of highly regulated chemicals, such as formaldehyde in their formulation.

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