Senomyx (SNMX) Upgraded to Buy by ValuEngine

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ValuEngine upgraded shares of Senomyx (NASDAQ:SNMX) from a hold rating to a buy rating in a report published on Friday.

NASDAQ:SNMX traded down $0.01 during trading hours on Friday, hitting $1.48. 157,942 shares of the company’s stock traded hands, compared to its average volume of 380,824. The firm has a market capitalization of $72.02 million, a price-to-earnings ratio of -49.33 and a beta of 1.50. Senomyx has a twelve month low of $0.80 and a twelve month high of $1.71.

Senomyx (NASDAQ:SNMX) last posted its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $3.29 million for the quarter. Senomyx had a negative return on equity of 15.80% and a negative net margin of 9.11%.

In related news, major shareholder Senvest Management, Llc sold 2,689,504 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $1.48, for a total transaction of $3,980,465.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.00% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Senomyx by 13.9% in the 2nd quarter. BlackRock Inc. now owns 1,062,279 shares of the specialty chemicals company’s stock worth $1,275,000 after purchasing an additional 129,585 shares during the last quarter. Renaissance Technologies LLC increased its position in Senomyx by 14.4% in the 2nd quarter. Renaissance Technologies LLC now owns 947,100 shares of the specialty chemicals company’s stock worth $1,137,000 after purchasing an additional 119,500 shares during the last quarter. Kassirer Asset Management Corp acquired a new position in Senomyx in the 3rd quarter worth about $1,332,000. Finally, Quantum Capital Management increased its position in Senomyx by 43.8% in the 2nd quarter. Quantum Capital Management now owns 402,338 shares of the specialty chemicals company’s stock worth $483,000 after purchasing an additional 122,525 shares during the last quarter. 30.71% of the stock is currently owned by institutional investors.

Senomyx Company Profile

Senomyx, Inc discovers, develops, and commercializes flavor ingredients and natural high intensity sweeteners primarily for the packaged food, beverage, and ingredient supply industries in the United States. The company develops and/or commercializes sweet, savory and salt flavor ingredients, bitter blockers and cooling agents.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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