In a report released today, Amit Dayal from H.C. Wainwright assigned a Buy rating to Amyris (NASDAQ: AMRS), with a price target of $15. The company’s shares closed yesterday at $5.18.
Dayal noted:
“We believe the attendance at this year’s event was at least 2-3x higher vs. last year, comprising of investors, analysts, business partners, and key management executives. We believe this is a great opportunity for investors to get a glimpse of not only the highly talented team of engineers and scientists that work for the company, but also the depth of technology that differentiates this company. Product development accelerating.”
According to TipRanks.com, Dayal is a 3-star analyst with an average return of 1.9% and a 42.1% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.
Currently, the analyst consensus on Amyris is Moderate Buy and the average price target is $12.50, representing a 141.3% upside.
In a report issued on May 18, B.Riley FBR also assigned a Buy rating to the stock with a $10 price target.
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Based on Amyris’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $91.5 million. In comparison, last year the company had a GAAP net loss of $37.37 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.
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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.
