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

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Ecosynthetix (TSE:ECO) had its price target hoisted by Canaccord Genuity from C$2.50 to C$4.00 in a research note published on Friday morning, BayStreet.CA reports.

TSE:ECO opened at C$3.32 on Friday. The stock’s 50-day moving average is C$3.23. Ecosynthetix has a 52-week low of C$1.55 and a 52-week 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. The company has a market cap of $193.82 million and a P/E ratio of -114.48.

Ecosynthetix (TSE:ECO) last posted its quarterly earnings data on Wednesday, May 8th. The company reported C($0.01) earnings per share (EPS) for the quarter. The firm had revenue of C$5.94 million for the quarter. As a group, research analysts forecast that Ecosynthetix will post -0.01 EPS for the current fiscal year.

Ecosynthetix Company Profile

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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