Synlogic (NASDAQ:SYBX) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Synlogic (NASDAQ:SYBX) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has $9.00 price objective on the biotechnology company’s stock.

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. “

SYBX has been the subject of a number of other reports. Chardan Capital set a $10.00 target price on Arcimoto and gave the company a buy rating in a research note on Friday, April 12th. HC Wainwright initiated coverage on Precision BioSciences in a research note on Tuesday. They issued a buy rating and a $21.00 target price for the company. Wedbush restated an outperform rating and issued a $21.00 target price on shares of Epizyme in a research note on Wednesday, June 12th. Piper Jaffray Companies set a $173.00 target price on DexCom and gave the company a buy rating in a research note on Monday. Finally, Jefferies Financial Group dropped their price objective on CommVault Systems to $65.00 and set a buy rating for the company in a research note on Tuesday, April 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Synlogic currently has an average rating of Buy and an average target price of $20.00.

Shares of NASDAQ SYBX opened at $7.20 on Tuesday. The company has a fifty day moving average price of $8.23. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $196.00 million, a price-to-earnings ratio of -3.55 and a beta of 2.42. Synlogic has a one year low of $5.75 and a one year high of $14.59.

Synlogic (NASDAQ:SYBX) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. The business had revenue of $0.34 million during the quarter, compared to analyst estimates of $0.42 million. Synlogic had a negative return on equity of 38.93% and a negative net margin of 2,005.43%. On average, equities analysts anticipate that Synlogic will post -2.09 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in Synlogic by 45.7% during the fourth quarter. Rhumbline Advisers now owns 21,753 shares of the biotechnology company’s stock worth $152,000 after acquiring an additional 6,820 shares in the last quarter. BlackRock Inc. increased its stake in shares of Synlogic by 33.4% in the fourth quarter. BlackRock Inc. now owns 1,248,355 shares of the biotechnology company’s stock valued at $8,750,000 after buying an additional 312,398 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Synlogic by 12.1% in the fourth quarter. Bank of New York Mellon Corp now owns 56,774 shares of the biotechnology company’s stock valued at $398,000 after buying an additional 6,129 shares in the last quarter. Northern Trust Corp increased its stake in shares of Synlogic by 1.2% in the fourth quarter. Northern Trust Corp now owns 167,135 shares of the biotechnology company’s stock valued at $1,172,000 after buying an additional 2,005 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Synlogic by 50.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 316,656 shares of the biotechnology company’s stock valued at $2,220,000 after buying an additional 105,628 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

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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