Canaccord Genuity Reiterates a 'Buy' on Solazyme (SZYM); Encouraged by Management’s Execution
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Price: $10.81 -6.24%
Rating Summary:
11 Buy, 0 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
11 Buy, 0 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade SZYM Now!
Canaccord Genuity reiterates a 'Buy' on Solazyme (NASDAQ: SZYM) price target of $19.00.
Analyst, John Quealy, said, "We come away encouraged by management’s execution on milestones thus far. Algenist continues to gain traction (and experience) and drive near-term product revenues, while the Street looks for the formalization of the Bunge JV this year and related plant groundbreaking (’13) as key events signaling the progression of planned capacity additions."
"SZYM reported Q4/11 revenue/GAAP EPS of $14.9M/$(0.26) vs. our modeled $15.0M/$(0.16) and consensus at $15.1M/$(0.16). We note that heavier than expected R&D expense largely accounted for the EPS variance (~$0.09 headwind). We continue to find financial results to be less meaningful than progress vs. key milestones at this point."
For an analyst ratings summary and ratings history on Solazyme click here. For more ratings news on Solazyme click here.
Shares of Solazyme closed at $11.87 yesterday, with a 52 week range of $7.68-$27.47.
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Analyst, John Quealy, said, "We come away encouraged by management’s execution on milestones thus far. Algenist continues to gain traction (and experience) and drive near-term product revenues, while the Street looks for the formalization of the Bunge JV this year and related plant groundbreaking (’13) as key events signaling the progression of planned capacity additions."
"SZYM reported Q4/11 revenue/GAAP EPS of $14.9M/$(0.26) vs. our modeled $15.0M/$(0.16) and consensus at $15.1M/$(0.16). We note that heavier than expected R&D expense largely accounted for the EPS variance (~$0.09 headwind). We continue to find financial results to be less meaningful than progress vs. key milestones at this point."
For an analyst ratings summary and ratings history on Solazyme click here. For more ratings news on Solazyme click here.
Shares of Solazyme closed at $11.87 yesterday, with a 52 week range of $7.68-$27.47.
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