HC Wainwright reaffirmed their buy rating on shares of Synlogic (NASDAQ:SYBX) in a research note published on Monday, AnalystRatings.com reports. HC Wainwright currently has a $13.00 price target on the biotechnology company’s stock.
“We calculate an enterprise value of $480M, comprised of $280M for I/O portfolio. This yields a price objective of $13.00 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).”,” the firm’s analyst commented.
Several other equities research analysts also recently commented on SYBX. Citigroup downgraded Synlogic from a buy rating to a sell rating and reduced their price objective for the stock from $20.00 to $2.00 in a report on Wednesday, August 21st. Piper Jaffray Companies set a $10.00 price target on Synlogic and gave the company a buy rating in a research note on Wednesday, September 4th. Wedbush restated an outperform rating and set a $20.00 price target on shares of Synlogic in a research note on Friday, August 9th. Chardan Capital set a $25.00 price target on Synlogic and gave the company a buy rating in a research note on Monday, July 15th. Finally, ValuEngine upgraded Synlogic from a sell rating to a hold rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Synlogic has a consensus rating of Buy and an average target price of $15.22.
Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. Synlogic had a negative return on equity of 34.75% and a negative net margin of 1,844.96%. The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. On average, equities analysts predict that Synlogic will post -1.92 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its stake in shares of Synlogic by 5,743.1% during the 1st quarter. Bank of Montreal Can now owns 12,738 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 12,520 shares during the period. Parametric Portfolio Associates LLC bought a new stake in shares of Synlogic during the 2nd quarter valued at about $195,000. Charles Schwab Investment Management Inc. grew its stake in shares of Synlogic by 11.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 37,208 shares of the biotechnology company’s stock valued at $339,000 after purchasing an additional 3,708 shares during the period. Alps Advisors Inc. grew its stake in shares of Synlogic by 4.5% during the 1st quarter. Alps Advisors Inc. now owns 61,466 shares of the biotechnology company’s stock valued at $467,000 after purchasing an additional 2,658 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Synlogic by 17.1% during the 2nd quarter. Northern Trust Corp now owns 201,613 shares of the biotechnology company’s stock valued at $1,835,000 after purchasing an additional 29,401 shares during the period. Institutional investors and hedge funds own 64.90% 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.
Further Reading: What does a hold rating mean?
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