Amyris slumps to three-month lows after Q3 results miss

Amyris

09/11/2022 11:55

** Biotech firm Amyris Inc's  AMRS.O  shares slump 26.6% in
premarket trade at $1.9 - touching three-month lows after Q3
results miss
    ** Co reports Q3 adj loss/shr of 50 cents, bigger than the
21 cents/shr analysts were expecting - Refinitiv IBES Data
    ** AMRS also missed Q3 revenue estimates as per analysts on
Refinitiv 
    ** Co blames results on a $193.6 mln increase in operating
expenses
    ** Brokerage Piper Sandler cuts PT to $2.5 from $4, citing
macro uncertainty 
    ** Five of eight brokerages rate the stock "buy" or higher,
three "hold"; their median PT is $9
    ** Up to Tuesday's close, stock had fallen 52% YTD compared
with a 31.2% decline in the NASDAQ industrial index  .IXID 
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))