Synthetic Biologics Inc (NYSEMKT:SYN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Synthetic Biologics Inc (NYSEMKT:SYN) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $0.75 price objective on the stock.
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. “
SYN has been the topic of a number of other research reports. William Blair reiterated an outperform rating and set a $5.00 price objective on shares of Synthetic Biologics in a research note on Monday, May 22nd. ValuEngine cut shares of Synthetic Biologics from a sell rating to a strong sell rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Synthetic Biologics presently has a consensus rating of Buy and an average target price of $4.51.
Shares of Synthetic Biologics (SYN) opened at 0.61 on Wednesday. The stock’s market cap is $74.36 million. The stock’s 50 day moving average price is $0.56 and its 200 day moving average price is $0.64. Synthetic Biologics has a 52 week low of $0.41 and a 52 week high of $1.90.
Synthetic Biologics (NYSEMKT:SYN) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.03. Equities research analysts anticipate that Synthetic Biologics will post ($0.21) EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in Synthetic Biologics during the fourth quarter worth approximately $356,000. LMR Partners LLP purchased a new position in Synthetic Biologics during the second quarter worth approximately $194,000. Creative Planning raised its position in Synthetic Biologics by 65.4% in the second quarter. Creative Planning now owns 177,000 shares of the company’s stock worth $100,000 after buying an additional 70,000 shares in the last quarter. UBS Group AG raised its position in Synthetic Biologics by 10.3% in the first quarter. UBS Group AG now owns 214,357 shares of the company’s stock worth $135,000 after buying an additional 20,038 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Synthetic Biologics by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 263,598 shares of the company’s stock worth $166,000 after buying an additional 7,962 shares in 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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