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

Synlogic (NASDAQ:SYBX)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Jaffray Companies in a report issued on Wednesday, The Fly reports. They currently have a $7.00 target price on the biotechnology company’s stock, down from their previous target price of $10.00. Piper Jaffray Companies’ price objective would indicate a potential upside of 219.63% from the company’s current price.

Several other analysts have also commented on SYBX. Chardan Capital reissued a “buy” rating on shares of Synlogic in a research report on Thursday, September 19th. 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 research report on Wednesday, August 21st. HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Synlogic in a research report on Monday, September 9th. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Synlogic in a research report on Friday, August 9th. Finally, Oppenheimer lowered shares of Synlogic from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $13.69.

NASDAQ:SYBX traded down $0.03 during mid-day trading on Wednesday, reaching $2.19. The company’s stock had a trading volume of 3,798 shares, compared to its average volume of 144,679. Synlogic has a 1 year low of $1.96 and a 1 year high of $11.43. The stock has a fifty day moving average of $2.20 and a 200-day moving average of $5.39. The firm has a market capitalization of $72.64 million, a PE ratio of -1.06 and a beta of 2.56. The company has a quick ratio of 14.43, a current ratio of 14.43 and a debt-to-equity ratio of 0.13.

Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.09. Synlogic had a negative net margin of 1,844.96% and a negative return on equity of 34.75%. The company had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.46 million. On average, analysts expect that Synlogic will post -1.92 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Synlogic by 0.3% in 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 last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Synlogic by 11.1% in 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. Flagship Harbor Advisors LLC purchased a new position in shares of Synlogic in the 3rd quarter valued at approximately $34,000. Parametric Portfolio Associates LLC purchased a new position in shares of Synlogic in the 2nd quarter valued at approximately $195,000. Finally, Northern Trust Corp raised its position in shares of Synlogic by 17.1% in 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 last quarter. 64.98% of the stock is owned by hedge funds and other institutional investors.

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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