Synlogic, Inc. (NASDAQ:SYBX – Get Rating) has been given a consensus rating of “Buy” by the six analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.20.
Several brokerages have weighed in on SYBX. Zacks Investment Research lowered Synlogic from a “buy” rating to a “hold” rating in a research report on Tuesday, March 8th. Oppenheimer reaffirmed a “buy” rating and issued a $7.00 target price on shares of Synlogic in a research report on Friday, March 18th. Finally, SVB Leerink dropped their target price on Synlogic from $11.00 to $8.00 and set an “outperform” rating on the stock in a research report on Friday, March 18th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Laurion Capital Management LP acquired a new position in shares of Synlogic during the 3rd quarter valued at about $244,000. RA Capital Management L.P. acquired a new position in shares of Synlogic during the 3rd quarter valued at about $20,333,000. Franklin Resources Inc. acquired a new position in shares of Synlogic during the 3rd quarter valued at about $310,000. Monashee Investment Management LLC acquired a new position in shares of Synlogic during the 3rd quarter valued at about $458,000. Finally, Raymond James & Associates acquired a new position in shares of Synlogic during the 3rd quarter valued at about $34,000. 62.15% of the stock is currently owned by institutional investors and hedge funds.
Synlogic (NASDAQ:SYBX – Get Rating) last issued its earnings results on Thursday, March 17th. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.06. The firm had revenue of $0.59 million during the quarter, compared to analyst estimates of $0.60 million. During the same period in the previous year, the company earned ($0.39) earnings per share. Equities research analysts predict that Synlogic will post -0.97 EPS for the current year.
About Synlogic (Get Rating)
Synlogic, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotic medicines to treat metabolic and immunological diseases in the United States. Its therapeutic programs include SYNB1618 and SYNB1934 that are orally administered, non-systemically absorbed drug candidates, which are in Phase II clinical trials to treat phenylketonuria; SYNB1353, an orally administered, non-systemically absorbed drug candidate to treat homocystinuria; and SYNB8802, an orally administered, non-systemically absorbed drug candidate that is in Phase I clinical trial for the treatment of enteric hyperoxaluria.
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