Arcadia Biosciences price target lowered to $6 from $10 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju lowered the firm’s price target on Arcadia Biosciences to $6 from $10 and keeps a Buy rating on the shares following the company’s asset divestitures. The target cut reflects the impact of the loss of the GoodWheat franchise and the lack of visibility regarding the durability of revenue growth from sales of Zola Coconut Water, the analyst tells investors in a research note.