Synthorx (NASDAQ:THOR) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Synthorx (NASDAQ:THOR) from a hold rating to a buy rating in a research report released on Thursday, ValuEngine reports.

Several other equities analysts also recently weighed in on THOR. Zacks Investment Research downgraded shares of Synthorx from a buy rating to a hold rating in a report on Thursday, August 8th. HC Wainwright reaffirmed a buy rating and set a $30.00 price target on shares of Synthorx in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $22.67.

Shares of NASDAQ:THOR opened at $16.71 on Thursday. Synthorx has a 1-year low of $11.00 and a 1-year high of $23.53. The company has a market capitalization of $516.26 million and a P/E ratio of -2.54. The firm’s 50 day simple moving average is $15.33 and its two-hundred day simple moving average is $16.59.

Synthorx (NASDAQ:THOR) last issued its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). As a group, research analysts expect that Synthorx will post -1.81 EPS for the current year.

A number of large investors have recently modified their holdings of THOR. Strs Ohio purchased a new position in Synthorx during the first quarter valued at approximately $38,000. Wells Fargo & Company MN lifted its holdings in Synthorx by 156.5% during the second quarter. Wells Fargo & Company MN now owns 12,056 shares of the medical instruments supplier’s stock valued at $162,000 after purchasing an additional 7,356 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in Synthorx during the second quarter valued at approximately $282,000. Athanor Capital LP bought a new stake in shares of Synthorx during the second quarter valued at approximately $290,000. Finally, Royal Bank of Canada raised its position in shares of Synthorx by 10,706.5% during the second quarter. Royal Bank of Canada now owns 21,613 shares of the medical instruments supplier’s stock valued at $292,000 after buying an additional 21,413 shares during the last quarter. 65.86% of the stock is currently owned by institutional investors and hedge funds.

About Synthorx

Synthorx, Inc, a biopharmaceutical company, focuses on the development of cytokine Synthorin programs for the treatment of cancer and autoimmune disorders in the United States. The company's lead product candidate is THOR-707, a variant of recombinant human IL-2 that is in the development in various solid tumor types as a single agent and in combination with an immune checkpoint inhibitor.

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