H.C. Wainwright Maintains a Buy Rating on Amyris (AMRS)


H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Amyris (AMRS) today and set a price target of $11. The company’s shares closed yesterday at $5.90.

Dayal observed:

“We are lowering our price target on AMRS to $11.00 from $15.00 previously. This revision is primarily driven by our more conservative stance on forward projections including removing around $40M of anticipated annual Vitamin E royalty revenues. To be clear, the company is still expected to generate royalty revenues from DSM (AMS:DSM; not rated) driven Vitamin E sales, but given the volatility associated with recognizing these revenues, management intends to exclude these from future guidance and we are following suit. Please see the Valuation section of this note for more details.”

According to TipRanks.com, Dayal is ranked 0 out of 5 stars with an average return of -9.1% and a 32.2% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amyris with a $10.50 average price target, implying a 78.0% upside from current levels. In a report issued on November 8, B.Riley FBR also assigned a Buy rating to the stock with a $10 price target.

.

See today’s analyst top recommended stocks >>

The company has a one-year high of $9.29 and a one-year low of $2.93. Currently, Amyris has an average volume of 1.11M.

Based on the recent corporate insider activity of 41 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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts