Jefferies maintained a Hold rating on Marrone Bio Innovations (NASDAQ: MBII), and cut the price target to $0.75 (from $1.00), following the company's 1Q earnings report. MBII reported a loss of $0.38, $0.13 worse than consensus. Sales rose 30%, with a 79% increase in product shipments.

Analyst Laurence Alexander commented, "Sales trends improved in Q1, but we believe most of the material catalysts remain tilted towards 2H16-2017. The new EPA submissions could trigger additional commercialization partnerships, which could shorten the path to FCF breakeven and alleviate balance sheet concerns. We reiterate our Hold rating."

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Shares of Marrone Bio Innovations closed at $0.67 yesterday.