Senomyx (SNMX) Downgraded by Zacks Investment Research

Senomyx (NASDAQ:SNMX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, November 29th.

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.

Senomyx (NASDAQ:SNMX) opened at $1.64 on Wednesday. Senomyx has a fifty-two week low of $0.56 and a fifty-two week high of $1.71.

Senomyx (NASDAQ:SNMX) last issued its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.02. The company 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 -0.25 EPS for the current fiscal year.

A hedge fund recently raised its stake in Senomyx stock. Algert Global LLC lifted its holdings in shares of Senomyx Inc. (NASDAQ:SNMX) by 14.7% in 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 approximately 0.75% of Senomyx worth $218,000 at the end of the most recent reporting period. 26.86% of the stock is currently owned by institutional investors and hedge funds.

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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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