Amyris, Inc. (AMRS) Stock Rating Upgraded by Zacks Investment Research
Amyris, Inc. (NASDAQ:AMRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $3.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.00% from the company’s current price.
According to Zacks, “Amyris INC is an integrated renewable products company applying industrial synthetic biology to genetically modify microorganisms to serve as living factories. Amyris designs these microorganisms to produce defined molecules for use as renewable chemicals and transportation fuels. The Company is engaged in the development of farmesene- a molecule, which serves as the base chemical building block for a wide range of renewable products to replace existing products that are derived from petroleum, plant or animal sources and that may be of lower quality or higher price. Amyris INC is headquartered in Emeryville, CA. “
Other equities research analysts have also recently issued reports about the stock. Cowen and Company set a $4.00 price target on shares of Amyris and gave the company a “hold” rating in a report on Thursday, August 17th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Amyris in a research report on Tuesday, September 26th. Finally, ValuEngine raised shares of Amyris from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Amyris currently has a consensus rating of “Hold” and an average price target of $20.69.
Shares of Amyris (NASDAQ:AMRS) opened at 3.27 on Wednesday. Amyris has a 12 month low of $0.21 and a 12 month high of $18.15. The stock’s market capitalization is $122.97 million. The stock’s 50 day moving average price is $2.95 and its 200-day moving average price is $4.49.
Amyris (NASDAQ:AMRS) last released its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($1.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.06) by ($0.35). The business had revenue of $25.68 million for the quarter, compared to the consensus estimate of $23.68 million. During the same period last year, the business earned ($0.06) EPS. Amyris’s revenue for the quarter was up 167.5% on a year-over-year basis. Equities analysts forecast that Amyris will post ($3.42) earnings per share for the current fiscal year.
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A hedge fund recently raised its stake in Amyris stock. Bank of New York Mellon Corp raised its position in shares of Amyris, Inc. (NASDAQ:AMRS) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,768 shares of the biotechnology company’s stock after buying an additional 4,603 shares during the period. Bank of New York Mellon Corp owned about 0.17% of Amyris worth $104,000 as of its most recent filing with the Securities and Exchange Commission. 19.79% of the stock is owned by hedge funds and other institutional investors.
Amyris Company Profile
Amyris, Inc is an integrated industrial biotechnology company. The Company is engaged in research and development and sales of fuels and farnesene-derived products. It is applying its industrial synthetic biology platform to engineer, manufacture and sell products into a range of consumer and industrial markets, including cosmetics, flavors and fragrances (F&F), solvents and cleaners, polymers, lubricants, healthcare products and fuels.
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