Amyris’ (AMRS) “Buy” Rating Reiterated at HC Wainwright
Amyris (NASDAQ:AMRS)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Tuesday. They presently have a $15.00 price target on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 98.94% from the stock’s previous close.
The analysts wrote, “Turtle Beach reported 2Q18 revenues/EBITDA of $61M/$9.8M, better than consensus of $48M/$3.1M(E) and our $48M/$3.2M(E). The strong sales performance in 2Q (up 218%) was driven by accelerating sell-through and moderate share gain. Management again attributed the outperformance to new demand created by battle royale games such as PUBG and Fortnite. Although it remains to be seen if sell- through momentum can sustain after the coming holiday season, HEAR has already gone through a meaningful transformation with a healthier balance sheet and an expanded installed headset base, both setting up the company well for long-term investments and growth. We raise our FY18 estimates and price target to $35 (was $31). Reiterate Outperform.””
A number of other research analysts also recently weighed in on AMRS. BidaskClub downgraded Amyris from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 17th. Zacks Investment Research raised Amyris from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research note on Wednesday, April 25th. ValuEngine raised Amyris from a “hold” rating to a “buy” rating in a research note on Monday, May 7th. Finally, B. Riley set a $10.00 price target on Amyris and gave the company a “buy” rating in a research note on Sunday, May 20th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $9.13.
Amyris (NASDAQ:AMRS) last posted its quarterly earnings results on Monday, August 6th. The biotechnology company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.08). The firm had revenue of $24.81 million during the quarter, compared to the consensus estimate of $37.52 million. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.32) earnings per share. equities analysts predict that Amyris will post -1.92 EPS for the current fiscal year.
In other news, insider John Melo sold 22,355 shares of the stock in a transaction on Monday, July 16th. The stock was sold at an average price of $6.61, for a total value of $147,766.55. Following the transaction, the insider now owns 748,908 shares of the company’s stock, valued at approximately $4,950,281.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 21.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMRS. Dynamic Technology Lab Private Ltd bought a new stake in shares of Amyris in the 1st quarter valued at $110,000. Rhumbline Advisers bought a new stake in shares of Amyris in the 2nd quarter valued at $147,000. Element Capital Management LLC bought a new stake in shares of Amyris in the 1st quarter valued at $227,000. B. Riley Financial Inc. bought a new stake in shares of Amyris in the 1st quarter valued at $294,000. Finally, Tibra Equities Europe Ltd bought a new stake in shares of Amyris in the 1st quarter valued at $295,000. Institutional investors and hedge funds own 23.68% of the company’s stock.
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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