Rapid Micro Biosystems (NASDAQ:RPID) Upgraded to Buy at Zacks Investment Research

Rapid Micro Biosystems (NASDAQ:RPID – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, Zacks.com reports. The brokerage currently has a $7.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.64% from the stock’s previous close.

According to Zacks, “Rapid Micro Biosystems Inc. is a life sciences technology company. It provides automation solutions to healthcare products. Rapid Micro Biosystems Inc. is based in LOWELL, Mass. “

Separately, Morgan Stanley lowered their target price on shares of Rapid Micro Biosystems from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, March 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rapid Micro Biosystems has a consensus rating of “Buy” and a consensus price target of $18.75.

NASDAQ RPID opened at $6.27 on Friday. The stock’s fifty day moving average price is $7.39 and its 200 day moving average price is $13.52. Rapid Micro Biosystems has a 1 year low of $5.51 and a 1 year high of $27.04.

Rapid Micro Biosystems (NASDAQ:RPID – Get Rating) last released its earnings results on Friday, March 4th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.07). On average, analysts expect that Rapid Micro Biosystems will post -1.49 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its holdings in Rapid Micro Biosystems by 254.4% in the 4th quarter. Citigroup Inc. now owns 3,236 shares of the company’s stock valued at $34,000 after acquiring an additional 2,323 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Rapid Micro Biosystems in the 4th quarter valued at about $34,000. California State Teachers Retirement System acquired a new stake in Rapid Micro Biosystems in the 3rd quarter valued at about $80,000. American International Group Inc. acquired a new stake in Rapid Micro Biosystems in the 3rd quarter valued at about $81,000. Finally, Deutsche Bank AG acquired a new stake in Rapid Micro Biosystems in the 3rd quarter valued at about $85,000. Institutional investors own 58.15% of the company’s stock.

Rapid Micro Biosystems Company Profile (Get Rating)

Rapid Micro Biosystems Inc is a life sciences technology company. It provides automation solutions to healthcare products. Rapid Micro Biosystems Inc is based in LOWELL, Mass.

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