Cowen Reiterates Market Perform on Amyris (AMRS) Following Record Low Production Costs

Cowen reiterated a Market Perform rating and $2.50 price target on Amyris, Inc. (NASDAQ: AMRS) following the company's announced record low farnesene production costs of $1.75 per liter. This record represents a 26% decrease over 2Q15 production costs and a 49% decrease over 2014 production costs.

Analyst Jeffrey Osborne commented, "Amyris announced record low farnesene production costs of $1.75 per liter, representing a 26% decrease over 2Q15 production costs and a 49% decrease over 2014 production costs. The cost data point gives us more confidence in our cost assumptions going forward but we look for success in commercializing new products as well as deleveraging the balance sheet to get more constructive on the stock."

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 $2.29 yesterday.

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