Synlogic Inc (NASDAQ:SYBX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Synlogic Inc (NASDAQ:SYBX) have received an average recommendation of “Buy” from the ten analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.50.

Several research analysts have recently commented on the stock. Citigroup lowered shares of Synlogic from a “buy” rating to a “sell” rating and decreased their price target for the company from $20.00 to $2.00 in a report on Wednesday, August 21st. Chardan Capital reaffirmed a “buy” rating on shares of Synlogic in a report on Thursday, September 19th. Zacks Investment Research raised shares of Synlogic from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Saturday. Oppenheimer lowered shares of Synlogic from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Synlogic in a report on Monday, September 9th.

SYBX stock remained flat at $$2.17 during mid-day trading on Wednesday. 68,143 shares of the company’s stock traded hands, compared to its average volume of 146,307. The firm has a market cap of $68.04 million, a P/E ratio of -1.07 and a beta of 2.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 14.43 and a quick ratio of 14.43. Synlogic has a 52 week low of $1.96 and a 52 week high of $11.43. The stock’s fifty day moving average is $2.38 and its two-hundred day moving average is $6.09.

Synlogic (NASDAQ:SYBX) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.45) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.04. Synlogic had a negative net margin of 1,844.96% and a negative return on equity of 34.75%. The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. On average, equities research analysts expect that Synlogic will post -1.92 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings 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 valued at $11,986,000 after buying an additional 113,665 shares during the period. Vanguard Group Inc. boosted its stake in Synlogic by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 770,641 shares of the biotechnology company’s stock valued at $7,013,000 after purchasing an additional 2,558 shares during the period. Northern Trust Corp boosted its stake in Synlogic by 17.1% during the 2nd quarter. Northern Trust Corp now owns 201,613 shares of the biotechnology company’s stock valued at $1,835,000 after purchasing an additional 29,401 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Synlogic by 11.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 37,208 shares of the biotechnology company’s stock valued at $339,000 after purchasing an additional 3,708 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new position in Synlogic during the 2nd quarter valued at about $195,000. 64.91% of the stock is 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.

Read More: What is a dead cat bounce?

Analyst Recommendations for Synlogic (NASDAQ:SYBX)

Receive News & Ratings for Synlogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synlogic and related companies with MarketBeat.com's FREE daily email newsletter.