Brokerages Set Synlogic Inc (SYBX) Target Price at $18.96

Shares of Synlogic Inc (NASDAQ:SYBX) have received a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $18.96.

SYBX has been the subject of a number of research reports. Zacks Investment Research downgraded Synlogic from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. ValuEngine downgraded Synlogic from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. BTIG Research initiated coverage on Synlogic in a report on Tuesday, February 12th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Chardan Capital set a $20.00 price objective on Synlogic and gave the stock a “buy” rating in a report on Friday, April 12th.

Shares of NASDAQ:SYBX traded down $0.01 during mid-day trading on Wednesday, reaching $7.71. 659 shares of the stock were exchanged, compared to its average volume of 56,208. The company has a market cap of $195.75 million, a PE ratio of -3.79 and a beta of 2.35. Synlogic has a one year low of $5.75 and a one year high of $14.59.

Synlogic (NASDAQ:SYBX) last posted its quarterly earnings data on Tuesday, March 12th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.09. The business had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.24 million. Synlogic had a negative return on equity of 36.38% and a negative net margin of 1,922.02%. On average, research analysts anticipate that Synlogic will post -2.19 EPS for the current year.

In other Synlogic news, insider Paul Francis Miller sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $9.75, for a total value of $87,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 23.30% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in 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 purchasing an additional 312,398 shares in the last quarter. Aquilo Capital Management LLC bought a new position in Synlogic in the third quarter valued at approximately $14,182,000. Vanguard Group Inc bought a new position in Synlogic in the third quarter valued at approximately $9,958,000. Vanguard Group Inc. bought a new position in Synlogic in the third quarter valued at approximately $9,958,000. Finally, Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 105,628 shares in the last quarter. Hedge funds and other institutional investors own 81.05% of the company’s stock.

About Synlogic

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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Analyst Recommendations for Synlogic (NASDAQ:SYBX)

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