Zacks: Analysts Anticipate Amyris, Inc. (NASDAQ:AMRS) Will Post Quarterly Sales of $53.40 Million

Brokerages forecast that Amyris, Inc. (NASDAQ:AMRS) will report $53.40 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Amyris’ earnings, with estimates ranging from $43.20 million to $64.00 million. Amyris reported sales of $30.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 77.9%. The business is scheduled to report its next earnings report on Thursday, August 5th.

On average, analysts expect that Amyris will report full year sales of $386.67 million for the current year, with estimates ranging from $343.20 million to $400.90 million. For the next year, analysts anticipate that the company will post sales of $383.73 million, with estimates ranging from $325.00 million to $518.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Amyris.

Amyris (NASDAQ:AMRS) last released its earnings results on Thursday, May 6th. The biotechnology company reported ($1.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.92). The firm had revenue of $176.90 million for the quarter, compared to analysts’ expectations of $73.36 million. The firm’s quarterly revenue was up 507.9% compared to the same quarter last year.

Several research analysts recently commented on AMRS shares. HC Wainwright raised their price objective on shares of Amyris from $11.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. HSBC started coverage on shares of Amyris in a report on Tuesday, June 1st. They issued a “buy” rating and a $20.00 price objective for the company. Roth Capital raised their price objective on shares of Amyris from $20.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, March 4th. Finally, Zacks Investment Research raised shares of Amyris from a “sell” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $18.23.

Shares of Amyris stock traded up $0.18 on Tuesday, reaching $15.81. 53,570 shares of the company traded hands, compared to its average volume of 4,552,202. Amyris has a 52 week low of $1.88 and a 52 week high of $23.42. The business has a 50 day moving average of $14.55. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -6.28 and a beta of 1.10.

In other news, Director Frank Kung sold 4,678,363 shares of the firm’s stock in a transaction on Tuesday, April 13th. The shares were sold at an average price of $14.96, for a total transaction of $69,988,310.48. Following the sale, the director now owns 2,266 shares in the company, valued at approximately $33,899.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 44.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Amyris by 14.8% during the 1st quarter. Principal Financial Group Inc. now owns 216,730 shares of the biotechnology company’s stock valued at $4,140,000 after buying an additional 28,019 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of Amyris by 215.9% during the 1st quarter. Voloridge Investment Management LLC now owns 779,471 shares of the biotechnology company’s stock valued at $14,888,000 after buying an additional 532,734 shares in the last quarter. Amundi Asset Management US Inc. purchased a new position in Amyris in the 1st quarter worth $214,000. Man Group plc purchased a new position in Amyris in the 1st quarter worth $3,279,000. Finally, Great West Life Assurance Co. Can raised its position in Amyris by 243.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 10,934 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 7,749 shares during the period. Hedge funds and other institutional investors own 36.08% of the company’s stock.

About Amyris

Amyris, Inc, a synthetic biotechnology company, operates in the clean health and beauty markets through its consumer brands and as a supplier of sustainable and natural ingredients in Europe, the United States, Asia, Brazil, and internationally. It manufactures and sells products for the health and wellness, clean beauty, and flavor and fragrance markets.

See Also: Swap

Get a free copy of the Zacks research report on Amyris (AMRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.