ValuEngine Lowers Senomyx Inc. (SNMX) to Strong Sell
Senomyx Inc. (NASDAQ:SNMX) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.
Several other brokerages have also recently commented on SNMX. Zacks Investment Research cut shares of Senomyx from a “hold” rating to a “sell” rating in a report on Saturday, April 29th. Roth Capital set a $2.00 target price on shares of Senomyx and gave the stock a “hold” rating in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $2.67.
Senomyx (SNMX) traded down 1.15% on Friday, hitting $0.86. 39,876 shares of the stock were exchanged. The company has a 50 day moving average of $0.89 and a 200 day moving average of $1.01. The stock’s market capitalization is $40.86 million. Senomyx has a one year low of $0.78 and a one year high of $4.85.
Senomyx (NASDAQ:SNMX) last announced its earnings results on Friday, April 28th. The specialty chemicals company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. Senomyx had a negative net margin of 39.68% and a negative return on equity of 54.22%. The business had revenue of $4.47 million during the quarter, compared to analysts’ expectations of $4.22 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The firm’s revenue was down 28.5% on a year-over-year basis. On average, equities research analysts forecast that Senomyx will post ($0.27) earnings per share for the current fiscal year.
In other Senomyx news, CEO John Poyhonen bought 50,000 shares of Senomyx stock in a transaction that occurred on Thursday, March 23rd. The stock was acquired at an average price of $0.98 per share, for a total transaction of $49,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Algert Global LLC raised its stake in Senomyx by 19.4% in the first quarter. Algert Global LLC now owns 313,788 shares of the specialty chemicals company’s stock valued at $311,000 after buying an additional 50,881 shares during the period. Geode Capital Management LLC raised its stake in Senomyx by 3.9% in the first quarter. Geode Capital Management LLC now owns 271,144 shares of the specialty chemicals company’s stock valued at $268,000 after buying an additional 10,081 shares during the period. Finally, Cowen Prime Services LLC raised its stake in Senomyx by 0.8% in the first quarter. Cowen Prime Services LLC now owns 345,351 shares of the specialty chemicals company’s stock valued at $342,000 after buying an additional 2,700 shares during the period. 42.38% of the stock is currently owned by hedge funds and other institutional investors.
Senomyx, Inc is focused on using taste receptor technologies to discover, develop and commercialize flavor ingredients for the packaged food, beverage and ingredient supply industries. The Company operates through development and commercialization of flavor ingredients segment. It is engaged in the discovery, development and/or commercialization of flavor ingredients through over five programs.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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