Senomyx Inc. (NASDAQ:SNMX)’s share price rose 4.6% during trading on Wednesday . The stock traded as high as $2.57 and last traded at $2.49, with a volume of 83,622 shares changing hands. The stock had previously closed at $2.38.

Separately, Zacks Investment Research upgraded shares of Senomyx from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Tuesday, May 10th.

The firm’s market capitalization is $111.45 million. The stock has a 50 day moving average price of $2.91 and a 200 day moving average price of $2.86.

Senomyx (NASDAQ:SNMX) last announced its quarterly earnings data on Thursday, April 28th. The company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The business earned $6.30 million during the quarter, compared to analyst estimates of $5.78 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. On average, equities analysts anticipate that Senomyx Inc. will post ($0.25) EPS for the current fiscal year.

A hedge fund recently raised its stake in Senomyx stock. Turner Investments L.P. boosted its stake in Senomyx Inc. (NASDAQ:SNMX) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,000 shares of the company’s stock after buying an additional 33,000 shares during the period. Turner Investments L.P. owned 0.78% of Senomyx worth $1,301,000 as of its most recent SEC filing.

Senomyx, Inc is focused on using taste receptor technologies to discover, develop and commercialize flavor ingredients for the packaged food, beverage and ingredient supply industries. The Company operates through development and commercialization of flavor ingredients segment. It is engaged in the discovery, development and/or commercialization of flavor ingredients through over five programs.