Needham & Company Starts Senomyx (SNMX) at Buy
- Top 10 News for 10/20 - 10/24: Apple Ramps on Results; Loeb Eyes Amgen; Advanced Technologies Exits Sapphire Game
- Procter & Gamble (PG) Reports In-Line Q1 EPS; To Spin-Off Duracell
- Dallas Ebola Nurse Nina Pham now cured - NIH Says
- Ford Motor (F) Tops Q3 EPS by 5c
- SodaStream (SODA) Confirms 'Small-Scale' PepsiCo (PEP) Test
Needham & Company initiates coverage on Senomyx (NASDAQ: SNMX) with a Buy rating and a price target of $16.00.
Analyst Serge Belanger comments, "We are initiating coverage of Senomyx (SNMX), a leader in the discovery and development of innovative flavor ingredients for the food/beverage industry, with a Buy and $16PT. Senomyx's R&D platform, based on biopharma methods, has been validated through partnerships and the development of 13 flavor ingredients. We expect Senomyx's impending profitability to be driven by two novel revenue streams -- PepsiCo.'s use of S617, a new sweet taste modifier, and a direct sales effort. Senomyx's transition from a development-stage to a commercial-stage company should allow it to benefit from the current trend of increased consumer and government focus on health and wellness."
Shares of Senomyx closed at $11.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Credit Suisse Downgrades KLA-Tencor (KLAC) to Neutral - Correct
- ResMed (RMD) PT Lifted to $57 on Solid Q1
- Goldman Sachs Downgrades Abercrombie & Fitch (ANF) to Sell
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!