Zacks Investment Research upgraded shares of Synlogic (NASDAQ:SYBX – Get Rating) from a hold rating to a buy rating in a research note released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $1.25 price target on the biotechnology company’s stock.
According to Zacks, “Synlogic, Inc. engaged in the development of a novel class of living Synthetic Biotic(TM) medicines based on its proprietary drug discovery and development platform. The company’s pipeline includes Synthetic Biotic medicines for the treatment of rare genetic diseases such as Urea Cycle Disorder and Phenylketonuria. In addition, the company is leveraging the broad potential of its platform to create Synthetic Biotic medicines for the treatment of other diseases, such as liver disease, inflammatory and immune disorders and cancer. It is collaborating with AbbVie to develop Synthetic Biotic-based treatments for inflammatory bowel disease. Synlogic Inc., formerly known as Mirna Therapeutics Inc., is based in Cambridge, Massachusetts. “
Several other brokerages also recently issued reports on SYBX. Oppenheimer reduced their price target on shares of Synlogic from $7.00 to $6.00 in a report on Thursday, May 12th. SVB Leerink cut their price objective on shares of Synlogic from $11.00 to $8.00 and set an outperform rating on the stock in a research report on Friday, March 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Synlogic currently has an average rating of Buy and an average target price of $6.88.
Synlogic (NASDAQ:SYBX – Get Rating) last announced its quarterly earnings results on Thursday, May 12th. The biotechnology company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. Synlogic had a negative return on equity of 43.07% and a negative net margin of 3,067.42%. During the same quarter in the previous year, the business posted ($0.36) EPS. Equities analysts anticipate that Synlogic will post -0.91 EPS for the current year.
Large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Synlogic by 663.1% in the fourth quarter. Bank of America Corp DE now owns 10,867 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 9,443 shares in the last quarter. UMA Financial Services Inc. acquired a new position in Synlogic in the 1st quarter worth approximately $30,000. Raymond James & Associates purchased a new position in Synlogic during the 3rd quarter worth approximately $34,000. Charles Schwab Investment Management Inc. acquired a new stake in Synlogic during the 4th quarter valued at $61,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Synlogic during the 4th quarter valued at $78,000. Institutional investors own 62.15% of the company’s stock.
About Synlogic (Get Rating)
Synlogic, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotic medicines to treat metabolic and immunological diseases in the United States. Its therapeutic programs include SYNB1618 and SYNB1934 that are orally administered, non-systemically absorbed drug candidates, which are in Phase II clinical trials to treat phenylketonuria; SYNB1353, an orally administered, non-systemically absorbed drug candidate to treat homocystinuria; and SYNB8802, an orally administered, non-systemically absorbed drug candidate that is in Phase I clinical trial for the treatment of enteric hyperoxaluria.
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