Needham & Company Starts Senomyx (SNMX) at Buy
- Market Wrap: Factory Orders Lag in April; Macy's Pressed on Real Estate Options; U.S. Auto Sales Outpace in May
- Greece Submits Surprise Bailout Plan Ahead of Creditors' Finalized Proposal (FXE) (UUP)
- After-Hours Stock Movers 06/02: (HRTX) (GIII) (AMBA) Higher; (VMEM) (ORIG) (GWRE) Lower (more...)
- Guess? (GES) Tops Q1 EPS by 9c
- Exclusive: Nokia's (NOK) Auction for HERE Maps Ending Soon
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
- Medtronic (MDT) PT Bumped to $91 at Needham & Company Post Q4
- UPDATE: Oppenheimer Starts Houghton Mifflin (HMHC) at Outperform
- UPDATE: Canaccord Genuity Starts HTG Molecular Diagnostics (HTGM) at Buy
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!