Senomyx (SNMX) Raised to Hold at Zacks Investment Research
Senomyx (NASDAQ:SNMX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Senomyx is using proprietary taste receptor technologies to discover and develop novel flavor ingredients. These include new flavors such as Savory Flavors and Cooling Flavors, as well as flavor modulators such as Bitter Blockers and enhancers of Sweet and Salt tastes. Senomyx is also engaged in a new effort to discover and develop natural high-potency sweeteners. The Company has product discovery and development collaborations with global food, beverage, and ingredient supply companies, some of which are currently marketing products that contain Senomyx’s flavor ingredients. “
Separately, ValuEngine upgraded Senomyx from a “strong sell” rating to a “sell” rating in a research report on Monday, November 20th.
Senomyx (NASDAQ:SNMX) last released its earnings results on Thursday, November 2nd. The specialty chemicals company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $5.06 million for the quarter. Senomyx had a negative return on equity of 93.36% and a negative net margin of 65.11%. research analysts forecast that Senomyx will post -0.26 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Senomyx stock. Algert Global LLC increased its stake in shares of Senomyx Inc. (NASDAQ:SNMX) by 14.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 359,788 shares of the specialty chemicals company’s stock after buying an additional 46,000 shares during the quarter. Algert Global LLC owned about 0.75% of Senomyx worth $218,000 at the end of the most recent reporting period. 26.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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