Zacks Investment Research upgraded shares of Amyris (NASDAQ:AMRS) from a strong sell rating to a hold rating in a research note released on Monday.
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. “
Several other equities research analysts have also issued reports on AMRS. HC Wainwright set a $11.00 price target on shares of Amyris and gave the company a buy rating in a report on Wednesday, November 14th. BidaskClub lowered shares of Amyris from a hold rating to a sell rating in a report on Tuesday, November 13th. B. Riley decreased their price target on shares of Amyris from $10.00 to $8.00 and set a buy rating on the stock in a report on Wednesday, November 14th. Finally, ValuEngine raised shares of Amyris from a buy rating to a strong-buy rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $7.63.
Amyris (NASDAQ:AMRS) last announced its quarterly earnings results on Tuesday, November 13th. The biotechnology company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.96). The company had revenue of $14.90 million for the quarter, compared to the consensus estimate of $46.72 million. The company’s revenue was down 38.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.81) earnings per share. On average, research analysts anticipate that Amyris will post -1.34 earnings per share for the current fiscal year.
In other Amyris news, insider John Melo sold 5,195 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $7.50, for a total transaction of $38,962.50. Following the sale, the insider now directly owns 743,713 shares of the company’s stock, valued at approximately $5,577,847.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Eduardo Alvarez bought 11,877 shares of Amyris stock in a transaction on Wednesday, September 5th. The shares were acquired at an average cost of $8.45 per share, for a total transaction of $100,360.65. Following the completion of the acquisition, the chief operating officer now directly owns 331,877 shares in the company, valued at $2,804,360.65. The disclosure for this purchase can be found here. Insiders own 21.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AMRS. Vivo Capital LLC grew its holdings in Amyris by 97.2% during the 3rd quarter. Vivo Capital LLC now owns 5,575,118 shares of the biotechnology company’s stock worth $44,266,000 after acquiring an additional 2,748,407 shares during the last quarter. BlackRock Inc. grew its holdings in Amyris by 3,109.9% during the 2nd quarter. BlackRock Inc. now owns 1,714,555 shares of the biotechnology company’s stock worth $10,955,000 after acquiring an additional 1,661,141 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in Amyris during the 3rd quarter worth approximately $7,828,000. AWM Investment Company Inc. bought a new stake in Amyris during the 3rd quarter worth approximately $5,876,000. Finally, Northpointe Capital LLC bought a new stake in Amyris during the 3rd quarter worth approximately $3,646,000. 28.87% of the stock is currently owned by hedge funds and other institutional investors.
Amyris Company Profile
Amyris, Inc provides various alternatives to a range of petroleum-sourced products worldwide. The company uses its industrial bioscience technology to design microbes primarily yeast, as well as to convert plant-sourced sugars into renewable ingredients. It produces and sells Biofene that converts to squalane, which is used as an emollient in cosmetics and other personal care products; and natural oils and aroma chemicals for the flavors and fragrances market.
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