In a report released yesterday, Carter Driscoll from B.Riley FBR maintained a Buy rating on Amyris (NASDAQ: AMRS), with a price target of $10. The company’s shares opened today at $7.77.
Driscoll observed:
“First commercial contract. Prior to market open today (October 3), Amyris (AMRS-Buy, $10.00 PT) announced it signed its first commercial contract – a supply and distribution agreement – for its highly anticipated zero calorie sweetener product. The agreement is with ASR Group, the world’s largest sugar cane refiner. ASR (American Sugar Refining) is a global brand that sells both branded and private label sugars (e.g. Tate & Lyle) spanning the U.K., respectively. ASR also formulates sugar-based products such as sweeteners, syrups, and other consumer products (e.g. private label drink mixes, molasses, malt extracts, etc.).”
According to TipRanks.com, Driscoll has 0 stars on 0-5 star ranking scale with an average return of -6.4% and a 37.0% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.
Amyris has an analyst consensus of Moderate Buy, with a price target consensus of $12.50, implying a 60.9% upside from current levels. In a report issued on September 28, H.C. Wainwright also maintained a Buy rating on the stock with a $15 price target.
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The company has a one-year high of $9.22 and a one-year low of $2.82. Currently, Amyris has an average volume of 906.4K.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMRS in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Amyris, Inc. is an industrial biotechnology company, which engages in the provision of bioscience solutions. It focuses on the research, development, manufacture, and sale of fuels and farnesene-derived products. Its products include cosmetics, flavors and fragrances, performance materials, diesel, jet fuel, and lubricants. The company was founded by Jack D.
