Analysts Anticipate Synlogic Inc (NASDAQ:SYBX) Will Announce Quarterly Sales of $980,000.00

Analysts forecast that Synlogic Inc (NASDAQ:SYBX) will post sales of $980,000.00 for the current quarter, Zacks reports. Five analysts have provided estimates for Synlogic’s earnings, with the lowest sales estimate coming in at $300,000.00 and the highest estimate coming in at $3.13 million. Synlogic reported sales of $250,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 292%. The company is expected to issue its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that Synlogic will report full-year sales of $2.04 million for the current year, with estimates ranging from $300,000.00 to $4.71 million. For the next fiscal year, analysts forecast that the business will post sales of $1.68 million, with estimates ranging from $1.30 million to $2.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Synlogic.

Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.03. The business had revenue of $0.34 million during the quarter, compared to analysts’ expectations of $0.42 million. Synlogic had a negative return on equity of 38.93% and a negative net margin of 2,005.43%.

Several analysts have commented on the company. Zacks Investment Research raised Synlogic from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Wednesday, May 15th. Chardan Capital set a $20.00 target price on Synlogic and gave the stock a “buy” rating in a research report on Friday, April 12th. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of Synlogic in a research report on Wednesday. Jefferies Financial Group assumed coverage on Synlogic in a research report on Tuesday, April 30th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Piper Jaffray Companies upped their price target on Synlogic from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $18.68.

Shares of NASDAQ:SYBX traded down $0.05 on Friday, hitting $7.72. 229,923 shares of the company’s stock were exchanged, compared to its average volume of 92,676. The stock has a market cap of $197.28 million, a P/E ratio of -3.80 and a beta of 2.31. Synlogic has a 1-year low of $5.75 and a 1-year high of $14.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 11.53 and a current ratio of 11.53.

Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc purchased a new position in shares of Synlogic in the 3rd quarter worth $33,000. Bank of Montreal Can raised its position in shares of Synlogic by 5,743.1% in the 1st quarter. Bank of Montreal Can now owns 12,738 shares of the biotechnology company’s stock worth $97,000 after buying an additional 12,520 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Synlogic in the 1st quarter worth $114,000. Rhumbline Advisers raised its position in shares of Synlogic by 45.7% in the 4th quarter. Rhumbline Advisers now owns 21,753 shares of the biotechnology company’s stock worth $152,000 after buying an additional 6,820 shares during the period. Finally, State of Wisconsin Investment Board raised its position in shares of Synlogic by 29.8% in the 1st quarter. State of Wisconsin Investment Board now owns 20,900 shares of the biotechnology company’s stock worth $159,000 after buying an additional 4,800 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Synlogic Company Profile

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 for the treatment of hyperammonemia, which includes patients with liver diseases, such as hepatic encephalopathy, as well as patients with urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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Earnings History and Estimates for Synlogic (NASDAQ:SYBX)

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