Raymond James Analysts Give Ginkgo Bioworks (NYSE:DNA) a $11.50 Price Target

Ginkgo Bioworks (NYSE:DNAGet Rating) has been assigned a $11.50 price target by analysts at Raymond James in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 202.63% from the stock’s current price.

Several other brokerages have also recently commented on DNA. Zacks Investment Research cut shares of Ginkgo Bioworks from a “buy” rating to a “hold” rating in a research report on Monday, April 4th. BTIG Research reduced their price target on shares of Ginkgo Bioworks from $12.00 to $6.00 in a research report on Thursday, March 31st. Cowen started coverage on shares of Ginkgo Bioworks in a research report on Wednesday, March 2nd. They set an “outperform” rating and a $12.00 price target on the stock. Bank of America reaffirmed a “neutral” rating and set a $6.00 price target on shares of Ginkgo Bioworks in a research report on Tuesday, February 1st. Finally, The Goldman Sachs Group started coverage on shares of Ginkgo Bioworks in a research report on Wednesday, February 23rd. They set a “neutral” rating and a $7.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ginkgo Bioworks currently has an average rating of “Buy” and a consensus target price of $8.82.

NYSE:DNA traded up $0.40 on Monday, reaching $3.80. The stock had a trading volume of 933,844 shares, compared to its average volume of 16,343,441. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.76 and a current ratio of 12.79. The company has a 50-day moving average of $3.80 and a 200 day moving average of $7.75. Ginkgo Bioworks has a 12-month low of $2.62 and a 12-month high of $15.86.

Ginkgo Bioworks (NYSE:DNAGet Rating) last posted its quarterly earnings data on Monday, March 28th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.95). On average, research analysts expect that Ginkgo Bioworks will post -0.13 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Trybe Capital Management LP acquired a new stake in shares of Ginkgo Bioworks in the third quarter valued at approximately $14,001,000. Toroso Investments LLC acquired a new stake in shares of Ginkgo Bioworks in the third quarter valued at approximately $617,000. Hellman Jordan Management Co. Inc. MA acquired a new stake in shares of Ginkgo Bioworks in the fourth quarter valued at approximately $332,000. Van ECK Associates Corp acquired a new stake in shares of Ginkgo Bioworks in the fourth quarter valued at approximately $35,000. Finally, Pura Vida Investments LLC acquired a new stake in shares of Ginkgo Bioworks in the third quarter valued at approximately $8,693,000.

About Ginkgo Bioworks (Get Rating)

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.

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