Danimer Scientific price target lowered to $1 from $1.25 at Piper Sandler

Piper Sandler analyst Charles Neivert lowered the firm’s price target on Danimer Scientific to $1 from $1.25 and keeps a Neutral rating on the shares. The firm cites Q2 earnings, company guidance and some recent channel checks. As a result, Piper has reduced its estimates to account for a slightly slower ramp-up of volume and a modest reduction in average price as the new contract begins to pull volume. The firm believes, based on the size of the contract, that some discounting from the current price realization is likely.