Needham & Company Starts Senomyx (SNMX) at Buy
- Yelp (YELP) Tops Q2 EPS by 7c; Issues Solid Outlook
- After-Hours Stock Movers 7/30: (MOBL) (VPRT) (LPSN) Higher; (EHTH) (ATEN) (GLUU) Lower (more...)
- Alcatel-Lucent (ALU) Tightens Q2 Loss; Will Explore IPO of ASN Subsidiary
- Marathon Petroleum (MPC) Tops Q2 EPS by 80c; Raises Buyback Plan by $2B
- Tesla (TSLA), Panasonic Affirm Entering Gigafactory Agreement
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: JPMorgan Downgrades Alaska Air (ALK) to Neutral
- BofA/Merrill Lynch Upgrades Twitter, Inc. (TWTR) to Buy, $60 PT
- Amgen (AMGN) PT, Estimates Raised at Piper Jaffray Following 'Robust' Q2
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!