Arcadia Biosciences price target lowered to $20 from $80 at Lake Street

Lake Street analyst Ben Klieve lowered the firm’s price target on Arcadia Biosciences to $20 from $80 and keeps a Buy rating on the shares. Arcadia "had a step back" in Q4 behind distribution issues after having made material progress in Q2 and Q3, Lake Street contends. While the firm continues to expect 2023 to "represent a step change" with GoodWheat ramping, Q4 challenges will lower the bar for more material improvement in 2023, the firm says.