On Thursday, BioHarvest Sciences Inc. (NASDAQ: BHST) shares, a $106.45 million market cap company, retained a favorable outlook from H.C. Wainwright, which confirmed a Buy rating and a $14.00 price target for the company's stock.
According to InvestingPro data, analyst targets range from $14 to $18, suggesting significant upside potential from current levels. The endorsement follows BioHarvest Sciences' recent announcement of a collaboration with Tate & Lyle PLC, a development aimed at producing innovative plant-based sweeteners.
The partnership, unveiled on December 11, is set to focus on the creation of next-generation botanical sweetening agents. These new ingredients will cater to the growing consumer demand for food and beverage components that are not only affordable and nutritious but also derived from sustainable plant sources.
BioHarvest Sciences and Tate & Lyle are working together to harness plant-derived molecules in an effort to deliver a sugar-like taste without any aftertaste. The collaboration is poised to offer solutions that are cost-effective and environmentally friendly, utilizing significantly less land and water compared to traditional extraction methods and land-based cultivation.
The anticipated ingredient solutions from this partnership are expected to align with consumer preferences for more sustainable and eco-conscious food choices. This strategic move by BioHarvest Sciences could potentially strengthen its position in the market as it works to meet these evolving consumer trends.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.