Senomyx Inc. (NASDAQ:SNMX) shares shot up 3.1% during trading on Wednesday . The company traded as high as $4.07 and last traded at $4.04, with a volume of 63,503 shares trading hands. The stock had previously closed at $3.92.

Separately, Zacks Investment Research raised Senomyx from a “hold” rating to a “strong-buy” rating and set a $4.00 target price for the company in a research note on Wednesday, August 3rd.

The firm’s 50-day moving average is $3.10 and its 200 day moving average is $2.88. The stock’s market capitalization is $176.81 million.

Senomyx (NASDAQ:SNMX) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $6.60 million for the quarter, compared to analyst estimates of $6.20 million. During the same period in the previous year, the business posted ($0.06) EPS. Senomyx’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that Senomyx Inc. will post ($0.25) EPS for the current fiscal year.

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.

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