Zymergen (NASDAQ:ZY) Lifted to “Hold” at HSBC

HSBC upgraded shares of Zymergen (NASDAQ:ZY) from a reduce rating to a hold rating in a research note issued to investors on Wednesday morning, Analyst Price Targets reports. The firm currently has $6.50 price objective on the stock.

A number of other equities research analysts have also issued reports on ZY. Zacks Investment Research upgraded shares of Zymergen from a hold rating to a buy rating and set a $7.75 target price on the stock in a research note on Saturday, January 8th. The Goldman Sachs Group dropped their price objective on shares of Zymergen from $12.00 to $10.50 and set a neutral rating on the stock in a research note on Thursday, November 4th. JPMorgan Chase & Co. lowered shares of Zymergen from a neutral rating to an underweight rating and set a $12.00 price objective on the stock. in a research note on Monday, September 27th. Finally, Cowen began coverage on shares of Zymergen in a research note on Friday, October 15th. They set a market perform rating on the stock. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Zymergen currently has an average rating of Hold and an average target price of $9.11.

Shares of Zymergen stock opened at $5.49 on Wednesday. The firm’s 50-day simple moving average is $7.97 and its 200-day simple moving average is $15.19. Zymergen has a 1 year low of $5.18 and a 1 year high of $52.00.

Zymergen (NASDAQ:ZY) last issued its earnings results on Wednesday, November 3rd. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.06. The company had revenue of $4.08 million during the quarter, compared to analyst estimates of $2.79 million. Sell-side analysts forecast that Zymergen will post -4.84 earnings per share for the current year.

In related news, CEO Jay T. Flatley acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The stock was acquired at an average cost of $10.00 per share, for a total transaction of $1,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Several institutional investors have recently bought and sold shares of ZY. Bank of New York Mellon Corp boosted its holdings in Zymergen by 10.7% during the third quarter. Bank of New York Mellon Corp now owns 65,805 shares of the company’s stock worth $867,000 after buying an additional 6,354 shares in the last quarter. Captrust Financial Advisors bought a new stake in Zymergen during the third quarter worth approximately $66,000. Royal Bank of Canada boosted its holdings in Zymergen by 99.9% during the third quarter. Royal Bank of Canada now owns 2,561 shares of the company’s stock worth $34,000 after buying an additional 1,280 shares in the last quarter. Morgan Stanley boosted its holdings in Zymergen by 28.8% during the third quarter. Morgan Stanley now owns 1,506,635 shares of the company’s stock worth $19,842,000 after buying an additional 336,702 shares in the last quarter. Finally, Johnson & Johnson bought a new stake in Zymergen during the third quarter worth approximately $218,000. Institutional investors and hedge funds own 48.89% of the company’s stock.

Zymergen Company Profile

Zymergen Inc designs, engineers, and optimizes microbes for industrial applications in United States, Asia, and Europe. The company has a platform that treats the genome as a search space, to identify genetic changes that improve the economics for its customers' bio-based products for a range of industries, including chemicals and materials, agriculture, and pharmaceuticals.

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Analyst Recommendations for Zymergen (NASDAQ:ZY)

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