Stock analysts at Oppenheimer assumed coverage on shares of Synlogic (NASDAQ:SYBX) in a research note issued on Friday, The Fly reports. The firm set an “outperform” rating and a $18.00 price target on the biotechnology company’s stock. Oppenheimer’s price target indicates a potential upside of 88.88% from the company’s previous close.
Several other analysts have also recently weighed in on SYBX. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Synlogic in a report on Monday, June 11th. Zacks Investment Research cut Synlogic from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. ValuEngine upgraded Synlogic from a “strong sell” rating to a “sell” rating in a report on Friday, April 27th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $15.00 price target on shares of Synlogic in a report on Monday, April 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $18.17.
NASDAQ:SYBX opened at $9.53 on Friday. The stock has a market cap of $239.99 million, a PE ratio of -1.62 and a beta of 1.83. Synlogic has a 1-year low of $8.73 and a 1-year high of $23.00.
Synlogic (NASDAQ:SYBX) last released its quarterly earnings results on Tuesday, May 15th. The biotechnology company reported ($0.55) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.18. The firm had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.21 million. research analysts anticipate that Synlogic will post -2.25 EPS for the current year.
In related news, insider Paul Francis Miller sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $9.77, for a total value of $29,310.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 23.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Spark Investment Management LLC bought a new stake in Synlogic in the fourth quarter valued at approximately $105,000. Dynamic Technology Lab Private Ltd bought a new stake in Synlogic in the first quarter valued at approximately $120,000. DRW Securities LLC bought a new stake in Synlogic in the first quarter valued at approximately $178,000. Element Capital Management LLC bought a new position in shares of Synlogic during the 1st quarter worth approximately $182,000. Finally, Deutsche Bank AG boosted its holdings in shares of Synlogic by 204.0% during the 4th quarter. Deutsche Bank AG now owns 19,672 shares of the biotechnology company’s stock worth $190,000 after buying an additional 13,200 shares in the last quarter. Institutional investors and hedge funds own 63.54% of the company’s stock.
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, which is in Phase I clinical trial for the treatment of patients with liver disease and hepatic encephalopathy, and urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
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