Janney Montgomery Scott Starts Senomyx (SNMX) at Buy, Much Potential Near and Long Term
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Price: $1.49 --0%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Janney Montgomery Scott initiates coverage on shares of Senomyx (NASDAQ: SNMX) with a Buy rating and $10 fair value estimate.
The firm reports that the company is hard to forecast, but it is "remarkably easy" to model with a portfolio of eight partner funded programs, each with the goal of a future royalty stream for flavor enhancers of uncertain magnitude and time to market.
Janney Montgomery states that there are three near-term catalysts present, a more commercial management approach, significant chance of success with the PesiCo (NYSE: PEP) partnership, and the potential for a near-term shift to profitability.
With $56 million in cash, the firm comments that SNMX will be able to change the scope of its business if needed.
Janney Montgomery comments that, "The change in Senomyx over our 5 years of knowing the company has been twofold. First, it has evolved to better recognize the competitive realities of flavorings in the US food industry. Secondly, management has recognized the value and role of the 5 or 6 key flavor intermediaries and struck a smart partnership with Firmenich."
For more ratings news on Senomyx click here and for the rating history of Senomyx click here.
Shares of Senomyx closed at $6.37 yesterday.
The firm reports that the company is hard to forecast, but it is "remarkably easy" to model with a portfolio of eight partner funded programs, each with the goal of a future royalty stream for flavor enhancers of uncertain magnitude and time to market.
Janney Montgomery states that there are three near-term catalysts present, a more commercial management approach, significant chance of success with the PesiCo (NYSE: PEP) partnership, and the potential for a near-term shift to profitability.
With $56 million in cash, the firm comments that SNMX will be able to change the scope of its business if needed.
Janney Montgomery comments that, "The change in Senomyx over our 5 years of knowing the company has been twofold. First, it has evolved to better recognize the competitive realities of flavorings in the US food industry. Secondly, management has recognized the value and role of the 5 or 6 key flavor intermediaries and struck a smart partnership with Firmenich."
For more ratings news on Senomyx click here and for the rating history of Senomyx click here.
Shares of Senomyx closed at $6.37 yesterday.
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