Amyris (NASDAQ:AMRS) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Amyris (NASDAQ:AMRS) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. The brokerage currently has $5.00 price target on the biotechnology company’s stock.

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 research analysts also recently commented on the company. Roth Capital reduced their price target on Amyris from $22.00 to $15.00 and set a buy rating for the company in a report on Tuesday, November 9th. Cowen assumed coverage on Amyris in a report on Friday, October 15th. They set a $19.00 target price on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $19.17.

Shares of AMRS opened at $4.99 on Tuesday. The company has a market capitalization of $1.54 billion, a P/E ratio of -2.56 and a beta of 1.51. Amyris has a one year low of $4.34 and a one year high of $23.42. The stock has a 50-day moving average price of $6.15 and a 200 day moving average price of $11.40.

Amyris (NASDAQ:AMRS) last issued its quarterly earnings results on Monday, November 8th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $47.90 million during the quarter, compared to analysts’ expectations of $64.21 million. The company’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.41) EPS. Sell-side analysts anticipate that Amyris will post -1.19 earnings per share for the current year.

In other news, Director James F. Mccann bought 17,400 shares of Amyris stock in a transaction on Monday, December 6th. The shares were bought at an average price of $5.71 per share, with a total value of $99,354.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 36.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in AMRS. BlackRock Inc. raised its position in shares of Amyris by 90.9% during the 2nd quarter. BlackRock Inc. now owns 22,829,395 shares of the biotechnology company’s stock worth $373,717,000 after purchasing an additional 10,873,530 shares during the period. Vanguard Group Inc. raised its position in shares of Amyris by 82.0% during the 2nd quarter. Vanguard Group Inc. now owns 17,376,918 shares of the biotechnology company’s stock worth $284,461,000 after purchasing an additional 7,827,670 shares during the period. Invesco Ltd. raised its position in shares of Amyris by 370.2% during the 2nd quarter. Invesco Ltd. now owns 2,300,941 shares of the biotechnology company’s stock worth $37,667,000 after purchasing an additional 1,811,541 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Amyris by 945.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,750,948 shares of the biotechnology company’s stock worth $28,663,000 after purchasing an additional 1,583,392 shares during the period. Finally, Carmignac Gestion acquired a new stake in shares of Amyris during the 2nd quarter worth approximately $23,981,000. Institutional investors and hedge funds own 38.63% of the company’s stock.

Amyris Company Profile

Amyris, Inc engages in the provision of bioscience solutions. It offers its products to health and wellness, clean beauty, and flavor and fragrance markets. The company was founded by Jack D. Newman, Kinkead Keith Reiling, and Neil Renninger on July 17, 2003 and is headquartered in Emeryville, CA.

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