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Senomyx (NASDAQ:SNMX) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $8.80 price target on the stock. Zacks‘s price objective would indicate a potential upside of 7.98% from the stock’s previous close.

Shares of Senomyx (NASDAQ:SNMX) traded down 2.09% during mid-day trading on Wednesday, hitting $7.98. 80,866 shares of the company’s stock traded hands. Senomyx has a 52 week low of $3.17 and a 52 week high of $12.74. The stock’s 50-day moving average is $7.50 and its 200-day moving average is $8.39. The company’s market cap is $342.2 million.

Senomyx (NASDAQ:SNMX) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.08) by $0.02. The company had revenue of $7.34 million for the quarter, compared to the consensus estimate of $7.46 million. During the same quarter last year, the company posted ($0.06) earnings per share. Senomyx’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that Senomyx will post $-0.23 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on SNMX. Analysts at Craig Hallum initiated coverage on shares of Senomyx in a research note on Thursday, June 19th. They set a “buy” rating and a $16.50 price target on the stock. Analysts at Lake Street Capital initiated coverage on shares of Senomyx in a research note on Monday, June 9th. They set a “buy” rating and a $14.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.96.

Senomyx, Inc is focused on using taste receptor technologies to discover and develop flavor ingredients for the packaged food, beverage and ingredient supply industries.

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