Synthetic Biologics Inc (SYN) Downgraded by Zacks Investment Research to “Hold”
Synthetic Biologics Inc (NYSE:SYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Synthetic Biologics, Inc. is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. The Company is engaged in developing product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis. Synthetic Biologics, Inc., formerly known as Adeona Pharmaceuticals, Inc., is headquartered in Ann Arbor, Michigan. “
Several other analysts have also recently commented on SYN. FBR & Co reiterated a “buy” rating on shares of Synthetic Biologics in a research note on Friday, August 5th. BTIG Research started coverage on shares of Synthetic Biologics in a research note on Thursday, August 25th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Griffin Securities set a $5.80 price objective on shares of Synthetic Biologics and gave the company a “buy” rating in a research note on Wednesday, August 31st.
Shares of Synthetic Biologics (NYSE:SYN) opened at 1.67 on Wednesday. The stock’s market cap is $152.42 million. Synthetic Biologics has a 1-year low of $0.93 and a 1-year high of $3.09. The stock has a 50 day moving average of $1.69 and a 200 day moving average of $1.93.
Synthetic Biologics (NYSE:SYN) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. Equities research analysts forecast that Synthetic Biologics will post ($0.39) EPS for the current year.
A number of institutional investors have recently made changes to their positions in the company. KCG Holdings Inc. acquired a new position in shares of Synthetic Biologics during the second quarter worth about $106,000. Rhumbline Advisers acquired a new position in shares of Synthetic Biologics during the second quarter worth about $126,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Synthetic Biologics during the second quarter worth about $213,000. Teachers Advisors Inc. acquired a new position in shares of Synthetic Biologics during the second quarter worth about $216,000. Finally, BlackRock Investment Management LLC boosted its position in shares of Synthetic Biologics by 2,517.2% in the second quarter. BlackRock Investment Management LLC now owns 282,158 shares of the company’s stock worth $508,000 after buying an additional 271,377 shares during the last quarter.
Synthetic Biologics Company Profile
Synthetic Biologics, Inc is a clinical-stage company. The Company is engaged in developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases. The Company’s lead product candidates in Phase II development are SYN-010, which is intended to reduce the impact of methane-producing organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C), and SYN-004, which is designed to protect the gut microbiome (gastrointestinal (GI) microflora) from the effects of certain commonly used intravenous (IV) antibiotics for the prevention of C.
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