Synlogic (NASDAQ:SYBX) Earns “Overweight” Rating from Piper Jaffray Companies

Piper Jaffray Companies reiterated their overweight rating on shares of Synlogic (NASDAQ:SYBX) in a research report released on Tuesday, The Fly reports. Piper Jaffray Companies currently has a $20.00 price target on the biotechnology company’s stock, up from their previous price target of $10.00.

Other research analysts have also issued research reports about the company. ValuEngine raised Synlogic from a sell rating to a hold rating in a research report on Thursday, August 1st. Wedbush reaffirmed an outperform rating and set a $20.00 price objective on shares of Synlogic in a research report on Friday, August 9th. Jefferies Financial Group started coverage on Synlogic in a research report on Tuesday, April 30th. They set a buy rating and a $18.00 price objective for the company. Chardan Capital set a $25.00 price objective on Synlogic and gave the company a buy rating in a research report on Monday, July 15th. Finally, HC Wainwright reaffirmed a buy rating and set a $22.00 price objective on shares of Synlogic in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $16.33.

SYBX stock opened at $3.27 on Tuesday. Synlogic has a twelve month low of $2.90 and a twelve month high of $14.59. The company has a quick ratio of 14.43, a current ratio of 14.43 and a debt-to-equity ratio of 0.13. The firm has a market cap of $103.72 million, a PE ratio of -1.61 and a beta of 2.39. The business has a 50 day moving average of $6.17 and a 200 day moving average of $7.75.

Synlogic (NASDAQ:SYBX) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.45) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.04. Synlogic had a negative return on equity of 34.75% and a negative net margin of 1,844.96%. The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. On average, research analysts expect that Synlogic will post -1.9 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of SYBX. Bank of Montreal Can boosted its stake in Synlogic by 5,743.1% during the 1st quarter. Bank of Montreal Can now owns 12,738 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 12,520 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new stake in Synlogic during the 2nd quarter valued at $195,000. 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 last quarter. Bank of New York Mellon Corp boosted its stake in Synlogic by 12.1% during the 4th quarter. Bank of New York Mellon Corp now owns 56,774 shares of the biotechnology company’s stock valued at $398,000 after purchasing an additional 6,129 shares during the last quarter. Finally, Alps Advisors Inc. boosted its stake in Synlogic by 4.5% during the 1st quarter. Alps Advisors Inc. now owns 61,466 shares of the biotechnology company’s stock valued at $467,000 after purchasing an additional 2,658 shares during the last quarter. Institutional investors and hedge funds own 66.08% of the company’s stock.

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.

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Analyst Recommendations for Synlogic (NASDAQ:SYBX)

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