Zacks Investment Research Downgrades Amyris Inc (NASDAQ:AMRS) to Sell
Amyris Inc (NASDAQ:AMRS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
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. “
A number of other equities analysts have also recently commented on the stock. HC Wainwright set a $15.00 price objective on shares of Amyris and gave the stock a “buy” rating in a research note on Wednesday, June 7th. ValuEngine cut shares of Amyris from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.13.
Amyris (NASDAQ AMRS) opened at 3.37 on Tuesday. The company’s market capitalization is $66.74 million. The stock’s 50 day moving average is $3.67 and its 200 day moving average is $7.37. Amyris has a 52 week low of $0.21 and a 52 week high of $18.15.
Amyris (NASDAQ:AMRS) last issued its quarterly earnings data on Monday, May 15th. The biotechnology company reported ($1.95) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by $0.60. The business had revenue of $13 million for the quarter, compared to analyst estimates of $32.30 million. During the same period in the prior year, the firm earned ($2.55) earnings per share. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. On average, equities research analysts expect that Amyris will post ($3.98) earnings per share for the current year.
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In related news, major shareholder (Mauritius) Pte Ltd Maxwell sold 652,513 shares of Amyris stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $0.55, for a total transaction of $358,882.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick Y. Yang purchased 300,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were purchased at an average cost of $0.29 per share, with a total value of $87,000.00. Following the completion of the purchase, the director now owns 153,000 shares in the company, valued at approximately $44,370. The disclosure for this purchase can be found here. 11.30% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Amyris stock. Carl Domino Inc increased its position in shares of Amyris Inc (NASDAQ:AMRS) by 37.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,925 shares of the biotechnology company’s stock after buying an additional 54,925 shares during the period. Carl Domino Inc owned 0.07% of Amyris worth $107,000 as of its most recent filing with the SEC.
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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