Raymond James Downgrades Amyris, Inc. (AMRS) to Underperform

February 12, 2013 8:07 AM EST
Get Alerts AMRS Hot Sheet
Price: $0.67 -2.9%

Rating Summary:
    1 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Raymond James downgraded Amyris, Inc. (NASDAQ: AMRS) from Market Perform to Underperform.

Analyst Pavel Molchanov notes the company has been in the penalty box since disclosing scale-up delays and withdrawing guidance almost exactly a year ago. "Industrial biotech scale-up is never a straightforward, linear process and Amyris' scale-up issues do not permanently condemn the technology platform, but it will clearly take time for visibility to re-emerge," he notes. Meanwhile cash burn remains high.

The reason for today's rating changes follows the recent run-up in the stock to the highest level among peers, which the analyst said is unwarranted.

For an analyst ratings summary and ratings history on Amyris, Inc. click here. For more ratings news on Amyris, Inc. click here.

Shares of Amyris, Inc. closed at $3.83 yesterday.

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