Amyris (AMRS) Price Target Cut to $8.00
Amyris (NASDAQ:AMRS) had its price target trimmed by B. Riley from $10.00 to $8.00 in a research note published on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the biotechnology company’s stock.
A number of other equities analysts have also recently weighed in on the stock. HC Wainwright set a $15.00 price target on shares of Amyris and gave the stock a buy rating in a research note on Thursday, August 30th. Zacks Investment Research cut shares of Amyris from a hold rating to a sell rating in a research note on Tuesday, October 9th. BidaskClub raised shares of Amyris from a hold rating to a buy rating in a research note on Wednesday, August 15th. Finally, ValuEngine raised shares of Amyris from a buy rating to a strong-buy rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $7.63.
Amyris stock traded down $0.28 during trading hours on Wednesday, reaching $3.86. 103,382 shares of the stock were exchanged, compared to its average volume of 808,336. The company has a market cap of $408.28 million, a P/E ratio of -1.27 and a beta of 0.27. Amyris has a 52-week low of $2.93 and a 52-week high of $9.28.
In other Amyris news, COO Eduardo Alvarez acquired 11,877 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were purchased at an average cost of $8.45 per share, with a total value of $100,360.65. Following the purchase, the chief operating officer now owns 331,877 shares in the company, valued at $2,804,360.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Melo sold 5,195 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $7.50, for a total transaction of $38,962.50. Following the completion of the sale, the insider now directly owns 743,713 shares in the company, valued at $5,577,847.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,807,465 shares of company stock worth $54,789,082. 21.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Amyris by 8.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 115,388 shares of the biotechnology company’s stock valued at $916,000 after acquiring an additional 9,172 shares during the last quarter. Wells Fargo & Company MN grew its stake in Amyris by 50.6% in the 3rd quarter. Wells Fargo & Company MN now owns 41,903 shares of the biotechnology company’s stock valued at $333,000 after acquiring an additional 14,075 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Amyris in the 3rd quarter valued at about $121,000. Dynamic Technology Lab Private Ltd acquired a new stake in Amyris in the 3rd quarter valued at about $127,000. Finally, Rhumbline Advisers acquired a new stake in Amyris in the 2nd quarter valued at about $147,000. 24.06% of the stock is currently owned by hedge funds and other institutional investors.
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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