NEW YORK (TheStreet) -- Senomyx  (SNMX) surged Thursday after Craig-Hallum initiated coverage on the biotech company, which creates additives to enhance flavors and odors in foods.

The firm initiated coverage with a "buy" rating and a $16.50 price target.

The stock was up 12.21% to $9.37 at 12:09 p.m.

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SNMX Price data by YCharts

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