Senomyx (NASDAQ:SNMX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
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 lowered Senomyx from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st.
Senomyx (NASDAQ:SNMX) last released its quarterly earnings data 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%. equities research analysts predict that Senomyx will post -0.27 EPS for the current fiscal year.
An institutional investor recently raised its position in Senomyx stock. Algert Global LLC lifted its stake in shares of Senomyx Inc. (NASDAQ:SNMX) by 14.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359,788 shares of the specialty chemicals company’s stock after acquiring an additional 46,000 shares during the quarter. Algert Global LLC owned approximately 0.75% of Senomyx worth $218,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 26.76% of the company’s stock.
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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