Senomyx (NASDAQ:SNMX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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 shares of Senomyx from a “strong sell” rating to a “sell” rating in a report on Monday, November 20th.
Senomyx (NASDAQ:SNMX) last announced its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02. Senomyx had a negative net margin of 65.11% and a negative return on equity of 93.36%. The company had revenue of $5.06 million for the quarter. analysts anticipate that Senomyx will post -0.26 EPS for the current year.
An institutional investor recently raised its position in Senomyx stock. Algert Global LLC increased its holdings in shares of Senomyx Inc. (NASDAQ:SNMX) by 14.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 359,788 shares of the specialty chemicals company’s stock after purchasing an additional 46,000 shares during the period. Algert Global LLC owned 0.75% of Senomyx worth $218,000 as of its most recent SEC filing. 26.76% of the stock is currently owned by hedge funds and other institutional investors.
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Senomyx Company Profile
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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