Synthetic Biologics Inc (NYSEMKT:SYN) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Synthetic Biologics Inc (NYSEMKT:SYN) from a hold rating to a buy rating in a report released on Wednesday morning. The firm currently has $0.75 target price on the stock.
According to Zacks, “Synthetic Biologics, Inc. is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. The Company is engaged in developing product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis. Synthetic Biologics, Inc., formerly known as Adeona Pharmaceuticals, Inc., is headquartered in Ann Arbor, Michigan. “
A number of other analysts also recently weighed in on SYN. ValuEngine downgraded Synthetic Biologics from a sell rating to a strong sell rating in a research note on Friday, June 2nd. William Blair reiterated an outperform rating and set a $5.00 target price on shares of Synthetic Biologics in a research report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Synthetic Biologics currently has a consensus rating of Buy and an average target price of $4.51.
Synthetic Biologics (SYN) opened at 0.535 on Wednesday. Synthetic Biologics has a 12-month low of $0.41 and a 12-month high of $1.90. The stock’s 50 day moving average is $0.54 and its 200 day moving average is $0.63. The firm’s market cap is $65.21 million.
Synthetic Biologics (NYSEMKT:SYN) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. On average, equities research analysts expect that Synthetic Biologics will post ($0.18) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning increased its position in Synthetic Biologics by 65.4% in the second quarter. Creative Planning now owns 177,000 shares of the company’s stock worth $100,000 after buying an additional 70,000 shares in the last quarter. UBS Group AG boosted its stake in shares of Synthetic Biologics by 10.3% in the first quarter. UBS Group AG now owns 214,357 shares of the company’s stock worth $135,000 after buying an additional 20,038 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Synthetic Biologics by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 263,598 shares of the company’s stock worth $166,000 after buying an additional 7,962 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Synthetic Biologics during the second quarter worth $194,000. Finally, Norges Bank bought a new stake in shares of Synthetic Biologics during the fourth quarter worth $356,000.
About Synthetic Biologics
Synthetic Biologics, Inc is a clinical-stage company. The Company is engaged in developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases. The Company’s lead product candidates in Phase II development are SYN-010, which is intended to reduce the impact of methane-producing organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C), and SYN-004, which is designed to protect the gut microbiome (gastrointestinal (GI) microflora) from the effects of certain commonly used intravenous (IV) antibiotics for the prevention of C.
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