J.P. Morgan Initiates Coverage Of Amyris; Neutral Rating Applies

J.P. Morgan is initiating coverage of Amyris, Inc. (NASDAQ: AMRS) with a Neutral rating.

“Amyris is an early-stage, next-generation chemical company,” J.P. Morgan writes. “Its technology is rooted in its expertise to genetically modify yeast strains to produce chemical molecules from renewable sugars.”

Commercialization of Amyris' farnesene molecule is to begin in 2011 through the use of contract manufacturers; J.P. Morgan forecasts the company will be unprofitable through 2012.

Amyris closed Friday at $17.30.