Zacks: Brokerages Expect Synlogic Inc (NASDAQ:SYBX) Will Post Quarterly Sales of $640,000.00

Brokerages expect Synlogic Inc (NASDAQ:SYBX) to announce sales of $640,000.00 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Synlogic’s earnings, with the lowest sales estimate coming in at $300,000.00 and the highest estimate coming in at $1.60 million. Synlogic posted sales of $110,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 481.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, March 10th.

According to Zacks, analysts expect that Synlogic will report full-year sales of $1.51 million for the current financial year, with estimates ranging from $1.00 million to $2.59 million. For the next fiscal year, analysts expect that the business will report sales of $1.49 million, with estimates ranging from $1.20 million to $2.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Synlogic.

Synlogic (NASDAQ:SYBX) last released its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.09. The company had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.46 million. Synlogic had a negative net margin of 4,574.82% and a negative return on equity of 34.49%.

SYBX has been the topic of a number of recent research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $7.00 price target (down previously from $10.00) on shares of Synlogic in a research note on Wednesday, November 13th. Citigroup downgraded 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 note on Wednesday, August 21st. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Synlogic in a research note on Wednesday. Zacks Investment Research raised shares of Synlogic from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research note on Saturday, November 16th. Finally, Chardan Capital reaffirmed a “buy” rating on shares of Synlogic in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Synlogic has a consensus rating of “Buy” and an average target price of $13.69.

A number of hedge funds have recently bought and sold shares of SYBX. Flagship Harbor Advisors LLC bought a new position in Synlogic during the third quarter valued at $34,000. Parametric Portfolio Associates LLC bought a new position in Synlogic during the second quarter valued at $195,000. Charles Schwab Investment Management Inc. increased its position in Synlogic by 11.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 37,208 shares of the biotechnology company’s stock valued at $339,000 after acquiring an additional 3,708 shares during the last quarter. State Street Corp increased its position in Synlogic by 12.9% during the third quarter. State Street Corp now owns 303,424 shares of the biotechnology company’s stock valued at $695,000 after acquiring an additional 34,552 shares during the last quarter. Finally, Northern Trust Corp increased its position in Synlogic by 17.1% during the second quarter. Northern Trust Corp now owns 201,613 shares of the biotechnology company’s stock valued at $1,835,000 after acquiring an additional 29,401 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.

Synlogic stock traded down $0.32 during mid-day trading on Monday, reaching $2.38. 538,521 shares of the company’s stock traded hands, compared to its average volume of 527,126. The company has a market cap of $90.74 million, a price-to-earnings ratio of -1.17 and a beta of 2.54. The stock has a 50 day moving average of $2.23 and a two-hundred day moving average of $4.46. The company has a quick ratio of 12.70, a current ratio of 12.70 and a debt-to-equity ratio of 0.14. Synlogic has a 12-month low of $1.91 and a 12-month high of $11.43.

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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Earnings History and Estimates for Synlogic (NASDAQ:SYBX)

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