Zacks Investment Research Downgrades Senomyx (SNMX) to Hold

Zacks Investment Research downgraded shares of Senomyx (NASDAQ:SNMX) from a buy rating to a hold rating in a research report released on Wednesday morning.

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 raised Senomyx from a strong sell rating to a sell rating in a research report on Monday, November 20th.

Shares of Senomyx (NASDAQ SNMX) opened at $1.45 on Wednesday. Senomyx has a 12-month low of $0.56 and a 12-month high of $1.71.

Senomyx (NASDAQ:SNMX) last posted its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ 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%. equities analysts forecast that Senomyx will post -0.25 EPS for the current year.

A hedge fund recently raised its stake in Senomyx stock. Algert Global LLC lifted its stake in Senomyx, Inc. (NASDAQ:SNMX) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 359,788 shares of the specialty chemicals company’s stock after purchasing an additional 46,000 shares during the quarter. Algert Global LLC owned about 0.75% of Senomyx worth $218,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 26.86% of the company’s stock.

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About Senomyx

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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