Needham & Company Starts Senomyx (SNMX) at Buy
- CDC confirms first Ebola case diagnosed in the U.S. (TKMR)
- ADP Employment Change 213K vs 205K Expected
- BofA/Merrill Lynch Sees New Era in Biotech Investing; Reinstates Coverage on 7 Large-Cap Names
- 5 Wall Street Firms Slash eBay (EBAY) Rating Amid PayPal Spin-Off
- Consumer Solar Company Vivint Solar (VSLR) Prices IPO at Low End of Range
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.
You May Also Be Interested In
- UPDATE: Northland Capital Markets Starts Nxt-ID, Inc. (NXTD) at Outperform
- BofA/Merrill Lynch Upgrades Taseko Mines Ltd. (TGB) to Neutral (Earlier)
- Wedbush Downgrades eBay (EBAY) to Neutral
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!