Needham & Company Starts Senomyx (SNMX) at Buy
- Top 10 News for 8/24 - 8/28: Markets Volatile on Continued China Worries; Revised Q2 GDP Outpaces; Facebook Hits User Activity Milestone
- Wall Street ends flat in quiet end to dramatic week
- Carl Icahn files 13D on Freeport-McMoran (FCX)
- Autodesk (ADSK) Tops Q2 EPS by 2c; Issues Light Q3 Outlook
- Fed says rate hike next month hinges on market volatility
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
- Pivotal Research Starts United Natural Foods (UNFI) at Sell
- Dougherty & Co Starts AVG Technologies (AVG) at Buy
- UBS Cuts Price Target on Veeva Systems (VEEV) Following 2Q16 Earnings Results
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!