HC Wainwright reissued their buy rating on shares of Synlogic (NASDAQ:SYBX) in a research note issued to investors on Monday morning, AnalystRatings.com reports. They currently have a $22.00 price objective on the biotechnology company’s stock.
“We calculate an enterprise value of $820M, comprised of $620M for SYNB1020 in UCD and hyperammonemia and I/O portfolio. This yields a price objective of $22.00 per share, with approximately 37M fully-diluted shares outstanding as of mid-2020 (including exercise of approximately 2.5M outstanding options and all of the roughly 2.5M pre-funded warrants previously issued in the last private placement transaction). Risks include, but are not limited to: (1) feasibility issues with bridging the liquid to the solid oral formulation; (2) negative results from early trials; (3) slower-than-anticipated clinical testing; and (4) inability to obtain regulatory approvals.”,” the firm’s analyst wrote.
Other equities analysts have also issued reports about the stock. Wedbush reiterated an outperform rating and issued a $20.00 price objective on shares of Synlogic in a research report on Friday, August 9th. Zacks Investment Research upgraded shares of Synlogic from a hold rating to a buy rating and set a $9.00 price objective on the stock in a research report on Tuesday, July 16th. Piper Jaffray Companies lifted their price objective on shares of Synlogic from $16.00 to $20.00 and gave the company an overweight rating in a research report on Monday, July 15th. ValuEngine upgraded shares of Synlogic from a sell rating to a hold rating in a research report on Thursday, August 1st. Finally, Chardan Capital set a $25.00 price objective on shares of Synlogic and gave the company a buy rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $20.00.
Synlogic (NASDAQ:SYBX) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The business had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $0.96 million. Synlogic had a negative net margin of 1,844.96% and a negative return on equity of 38.75%. Analysts anticipate that Synlogic will post -1.92 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Synlogic by 33.4% in the 4th quarter. BlackRock Inc. now owns 1,248,355 shares of the biotechnology company’s stock valued at $8,750,000 after buying an additional 312,398 shares during the period. Bank of New York Mellon Corp boosted its position in Synlogic by 12.1% in the 4th quarter. Bank of New York Mellon Corp now owns 56,774 shares of the biotechnology company’s stock valued at $398,000 after buying an additional 6,129 shares during the period. Northern Trust Corp boosted its position in Synlogic by 1.2% in the 4th quarter. Northern Trust Corp now owns 167,135 shares of the biotechnology company’s stock valued at $1,172,000 after buying an additional 2,005 shares during the period. Dimensional Fund Advisors LP boosted its position in Synlogic by 50.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 316,656 shares of the biotechnology company’s stock valued at $2,220,000 after buying an additional 105,628 shares during the period. Finally, Geode Capital Management LLC boosted its position in Synlogic by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 155,161 shares of the biotechnology company’s stock valued at $1,087,000 after buying an additional 16,591 shares during the period. Hedge funds and other institutional investors own 81.88% of the company’s stock.
Synlogic Company Profile
Synlogic, Inc a clinical-stage biopharmaceutical company, focuses on the discovery and development of synthetic biotic medicines to treat metabolic, inflammatory, and cancer diseases in the United States. Its lead therapeutic programs include SYNB1020, an oral therapy for the treatment of hyperammonemia, which includes patients with liver diseases, such as hepatic encephalopathy, as well as patients with urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
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