Alpha Teknova, Inc. (NASDAQ:TKNO) Stock Has Consensus Target Price of $8.00

Alpha Teknova, Inc. (NASDAQ:TKNO) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $8.75.

Several research firms recently issued reports on TKNO. BTIG Research upgraded Alpha Teknova from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Tuesday, August 11th. TD Cowen increased their target price on shares of Alpha Teknova from $7.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Research raised shares of Alpha Teknova to a “hold” rating in a research report on Thursday, August 6th. Roth Capital started coverage on shares of Alpha Teknova in a research note on Wednesday, August 5th. They issued a “buy” rating and a $7.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on Alpha Teknova in a research report on Thursday, September 17th. They set a “buy” rating and a $9.00 price objective on the stock.

Alpha Teknova Stock Down 5.2%

Shares of TKNO opened at $7.79 on Monday. The firm has a market cap of $417.62 million, a P/E ratio of -25.13 and a beta of 0.85. Alpha Teknova has a 12-month low of $1.91 and a 12-month high of $9.48. The company’s 50-day moving average price is $7.71 and its 200 day moving average price is $5.52. The company has a current ratio of 4.49, a quick ratio of 3.48 and a debt-to-equity ratio of 0.21.

Alpha Teknova (NASDAQ:TKNO) last posted its earnings results on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $12.19 million for the quarter, compared to analysts’ expectations of $10.95 million. Alpha Teknova had a negative net margin of 38.37% and a negative return on equity of 24.94%. On average, sell-side analysts forecast that Alpha Teknova will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP acquired a new stake in Alpha Teknova in the 2nd quarter valued at about $115,000. Bank of America Corp DE purchased a new position in shares of Alpha Teknova in the 2nd quarter valued at about $1,453,000. Ieq Capital LLC acquired a new position in shares of Alpha Teknova during the second quarter worth about $62,000. BlackRock Inc. acquired a new position in shares of Alpha Teknova during the second quarter worth about $4,997,000. Finally, Deutsche Bank AG purchased a new stake in shares of Alpha Teknova during the second quarter worth approximately $62,000. 13.81% of the stock is owned by institutional investors and hedge funds.

Alpha Teknova Company Profile

Alpha Teknova, Inc develops and manufactures critical reagents and process solutions used in life sciences research, biopharmaceutical production, cell and gene therapies, vaccines, and molecular diagnostics. The company serves customers that require specialized materials for developing, scaling, and commercializing biological products.

Its product portfolio includes research-grade and current good manufacturing practice (cGMP) buffers, reagents, media, and other process fluids. Alpha Teknova also provides custom formulation, development, manufacturing, and packaging services designed to support applications ranging from laboratory research to regulated commercial production.

Founded in 1996 and headquartered in Hollister, California, Alpha Teknova serves biotechnology, pharmaceutical, diagnostic, academic, and research customers.