Synlogic (NASDAQ:SYBX) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Synlogic (NASDAQ:SYBX) in a research note published on Wednesday morning, TipRanks reports. The firm currently has a $13.00 target price on the biotechnology company’s stock.

A number of other equities research analysts have also weighed in on SYBX. Piper Jaffray Companies reissued an overweight rating and issued a $7.00 target price (down previously from $10.00) on shares of Synlogic in a research note on Wednesday, November 13th. Chardan Capital reaffirmed a buy rating on shares of Synlogic in a research report on Thursday, September 19th. Zacks Investment Research raised Synlogic from a hold rating to a buy rating and set a $2.50 price target for the company in a research report on Saturday, November 16th. Citigroup lowered Synlogic from a buy rating to a sell rating and lowered their price target for the company from $20.00 to $2.00 in a research report on Wednesday, August 21st. Finally, Oppenheimer lowered Synlogic from an outperform rating to a market perform rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $13.69.

Shares of SYBX traded down $0.32 during midday trading on Wednesday, reaching $2.38. The stock had a trading volume of 538,521 shares, compared to its average volume of 527,126. The company’s 50-day moving average is $2.23 and its 200 day moving average is $4.46. Synlogic has a 12-month low of $1.91 and a 12-month high of $11.43. The company has a current ratio of 12.70, a quick ratio of 12.70 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $90.74 million, a price-to-earnings ratio of -1.17 and a beta of 2.54.

Synlogic (NASDAQ:SYBX) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. Synlogic had a negative return on equity of 34.49% and a negative net margin of 4,574.82%. The company had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.46 million. Research analysts forecast that Synlogic will post -1.8 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Synlogic by 9.4% in the 2nd quarter. BlackRock Inc. now owns 1,317,063 shares of the biotechnology company’s stock worth $11,986,000 after buying an additional 113,665 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Synlogic by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 770,641 shares of the biotechnology company’s stock worth $7,013,000 after buying an additional 2,558 shares during the last quarter. State Street Corp grew its stake in shares of Synlogic by 12.9% in the 3rd quarter. State Street Corp now owns 303,424 shares of the biotechnology company’s stock worth $695,000 after buying an additional 34,552 shares during the last quarter. Northern Trust Corp grew its stake in shares of Synlogic by 17.1% in the 2nd quarter. Northern Trust Corp now owns 201,613 shares of the biotechnology company’s stock worth $1,835,000 after buying an additional 29,401 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Synlogic by 11.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 37,208 shares of the biotechnology company’s stock worth $339,000 after buying an additional 3,708 shares during the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

About Synlogic

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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Analyst Recommendations for Synlogic (NASDAQ:SYBX)

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