Synlogic, Inc. (NASDAQ: SYBX – Get a rating) received a consensus rating of “Buy” by the six analysts who currently cover the company, MarketBeat.com reports. One equity research analyst rated the stock with a hold recommendation and five gave the company a buy recommendation. The average 1-year target price among brokerages that updated their coverage on the stock in the past year is $8.20.
Several brokerages have weighed in on SYBX. Zacks Investment Research downgraded Synlogic from a “buy” rating to a “hold” rating in a Tuesday, March 8 research report. Oppenheimer reaffirmed a “buy” rating and issued a target price of $7.00 on Synlogic shares in a research report on Friday, March 18. Finally, SVB Leerink lowered its price target on Synlogic from $11.00 to $8.00 and set an “outperform” rating on the stock in a Friday, March 18 research report.
Hedge funds and other institutional investors have recently changed their holdings in the company. Laurion Capital Management LP acquired a new stock position in Synlogic during Q3 worth approximately $244,000. RA Capital Management LP acquired a new position in Synlogic stock during Q3 worth approximately $20,333,000. Franklin Resources Inc. acquired a new stock position in Synlogic during Q3 valued at approximately $310,000. Monashee Investment Management LLC acquired a new stock position in Synlogic during Q3, valued at approximately $458,000. Finally, Raymond James & Associates acquired a new position in Synlogic stock during Q3 worth approximately $34,000. 62.15% of the shares are currently held by institutional investors and hedge funds.
NASDAQ: SYBX opened at $1.70 on Friday. Synlogic has a 1-year minimum of $1.39 and a 1-year maximum of $4.54. The company’s fifty-day moving average price is $2.10 and its 200-day moving average price is $2.25.
Synlogical (NASDAQ: SYBX – Get a rating) last released its results on Thursday, March 17. The biotech company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.06. The company posted revenue of $0.59 million in the quarter, versus analyst estimates of $0.60 million. During the same period of the previous year, the company made ($0.39) earnings per share. Equity research analysts expect Synlogic to post year-to-date EPS of -0.97.
About Synlogic (Get a rating)
Synlogic, Inc., a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotic drugs to treat metabolic and immunological diseases in the United States. Its therapeutic programs include SYNB1618 and SYNB1934 which are orally administered, non-systemically absorbed drug candidates that are in Phase II clinical trials for the treatment of phenylketonuria; SYNB1353, an orally administered, non-systemically absorbed drug candidate for the treatment of homocystinuria; and SYNB8802, an orally administered, non-systemically absorbed drug candidate in a Phase I clinical trial for the treatment of enteric hyperoxaluria.
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