UPDATE: Goldman Sachs Downgrades Zymergen Inc (ZY) to Neutral

August 4, 2021 5:03 AM EDT
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Price: $12.81 -3.17%

Rating Summary:
    0 Buy, 4 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 12 | New: 30
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(Updated - August 4, 2021 5:05 AM EDT)

Goldman Sachs analyst Matthew Sykes downgraded Zymergen Inc (NASDAQ: ZY) from Buy to Neutral with a price target of $12.00 (from $55.00).

The analyst comments "We downgrade shares of ZY to Neutral from Buy as we meaningfully reduce our FY21-23E revenue to reflect management’s announced delays to Hyaline’s commercial launch and potential resizing of the market opportunities. This follows Zymergen’s 8/3 business update about its commercial product pipeline and financial expectations. We also lower our 12-month price target to $12 from $55."

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

Shares of Zymergen Inc closed at $34.83 yesterday.

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