Zacks Investment Research upgraded shares of Senomyx (NASDAQ:SNMX) from a sell rating to a hold rating in a research report report published on Friday 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 upgraded Senomyx from a strong sell rating to a sell rating in a research note 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, topping the consensus estimate of ($0.07) by $0.02. Senomyx had a negative return on equity of 93.36% and a negative net margin of 65.11%. The business had revenue of $5.06 million during the quarter. sell-side analysts predict 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 position in shares of Senomyx Inc. (NASDAQ:SNMX) by 14.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 359,788 shares of the specialty chemicals company’s stock after buying an additional 46,000 shares during the period. Algert Global LLC owned about 0.75% of Senomyx worth $218,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 26.76% of the company’s stock.
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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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