Synlogic (SYBX) Upgraded to Buy at Zacks Investment Research
Synlogic (NASDAQ:SYBX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage currently has a $9.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 1.99% from the stock’s current price.
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. “
A number of other research firms have also recently issued reports on SYBX. Citigroup upped their price objective on shares of Synlogic to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Wedbush reiterated an “outperform” rating on shares of Synlogic in a research report on Friday, September 7th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Synlogic in a research report on Tuesday, November 13th. Finally, Oppenheimer set a $18.00 price objective on shares of Synlogic and gave the stock a “buy” rating in a research report on Monday, November 12th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $18.11.
Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Tuesday, November 13th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.21. The business had revenue of $1.80 million during the quarter, compared to analysts’ expectations of $0.20 million. Synlogic had a negative net margin of 1,912.74% and a negative return on equity of 39.07%. Sell-side analysts predict that Synlogic will post -2.2 earnings per share for the current fiscal year.
In other Synlogic news, insider Paul Francis Miller sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $9.76, for a total value of $29,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 12,000 shares of company stock valued at $135,390. Corporate insiders own 23.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SYBX. American International Group Inc. acquired a new position in Synlogic in the 3rd quarter valued at approximately $145,000. Rhumbline Advisers acquired a new position in Synlogic in the 3rd quarter valued at approximately $212,000. Northern Trust Corp acquired a new position in Synlogic in the 1st quarter valued at approximately $249,000. TIAA CREF Investment Management LLC acquired a new position in Synlogic in the 3rd quarter valued at approximately $251,000. Finally, Teachers Advisors LLC acquired a new position in Synlogic in the 3rd quarter valued at approximately $290,000. Hedge funds and other institutional investors own 79.38% of the company’s stock.
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, which is in Phase I clinical trial for the treatment of patients with liver disease and hepatic encephalopathy, and urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
Read More: Debt-To-Equity Ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Synlogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synlogic and related companies with MarketBeat.com's FREE daily email newsletter.