Amyris (AMRS) Shares Gap Down Following Weak Earnings
Amyris Inc (NASDAQ:AMRS) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $7.38, but opened at $5.90. Amyris shares last traded at $4.14, with a volume of 6619545 shares changing hands.
The biotechnology company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.96). The company had revenue of $14.90 million for the quarter, compared to the consensus estimate of $46.72 million. The company’s revenue was down 38.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.81) EPS.
Several brokerages recently commented on AMRS. BidaskClub upgraded shares of Amyris from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. HC Wainwright set a $15.00 price target on shares of Amyris and gave the company a “buy” rating in a report on Thursday, October 4th. Zacks Investment Research downgraded shares of Amyris from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. ValuEngine raised shares of Amyris from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 2nd. Finally, B. Riley set a $10.00 price objective on shares of Amyris and gave the company a “buy” rating in a research report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $7.63.
Institutional investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. purchased a new stake in Amyris in the 3rd quarter valued at about $121,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Amyris in the 3rd quarter worth approximately $127,000. Rhumbline Advisers purchased a new stake in shares of Amyris in the 2nd quarter worth approximately $147,000. Bank of Montreal Can lifted its position in shares of Amyris by 14,604.1% in the 3rd quarter. Bank of Montreal Can now owns 25,291 shares of the biotechnology company’s stock worth $202,000 after purchasing an additional 25,119 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Amyris in the 2nd quarter worth approximately $167,000. 24.06% of the stock is owned by institutional investors.
The stock has a market capitalization of $408.28 million, a price-to-earnings ratio of -1.27 and a beta of 0.27.
Amyris Company Profile (NASDAQ:AMRS)
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.
Featured Story: What is the NASDAQ Stock Market?
Receive News & Ratings for Amyris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amyris and related companies with MarketBeat.com's FREE daily email newsletter.