Needham & Company Starts Senomyx (SNMX) at Buy

April 4, 2014 6:44 AM EDT
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Price: $1.15 -4.96%

Rating Summary:
    3 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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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."

For an analyst ratings summary and ratings history on Senomyx click here. For more ratings news on Senomyx click here.

Shares of Senomyx closed at $11.55 yesterday.

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