Synlogic (SYBX) Now Covered by HC Wainwright
HC Wainwright initiated coverage on shares of Synlogic (NASDAQ:SYBX) in a research report sent to investors on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $20.00 target price on the biotechnology company’s stock.
“Shares When Financing and Leadership Gaps Filled Stock Data 03/16/2018 Price $1.98 Exchange NASDAQ Price Target $4.00 52-Week High $3.50 52-Week Low $1.60 Enterprise Value (M) $149.2 Market Cap (M) $110 Shares Outstanding (M) 55.9 3 Month Avg Volume 501,177 Short Interest (M) 2.74 Balance Sheet Metrics Cash (M) $21.2 Total Debt (M) $60.0 Total Cash/Share $0.38 EPS Diluted Full Year – Dec 2017A 2018E 2019E 1Q 0.91 (0.22) — 2Q (0.23) (0.18) — 3Q (0.18) (0.17) — 4Q (0.29) (0.16) — FY 0.21 (0.73) (0.39) Revenue ($M) Full Year – Dec 2017A 2018E 2019E 1Q 29.5 10.6 — 2Q 8.7 11.9 — 3Q 11.3 13.1 — 4Q 12.5 14.6 — FY 62.0 50.2 73.3 4 3.5 3 2.5 2 1.5 MAR- 17 J UL- 17 NOV- 17 MAR- 18 4 3 2 1 0 Vol. (mil) Price Another solid Belbuca growth quarter; expect near-term CEO and recapitalization.”,” HC Wainwright’s analyst commented.
Several other brokerages have also recently issued reports on SYBX. Zacks Investment Research raised shares of Synlogic from a sell rating to a hold rating in a report on Saturday, January 20th. Wedbush began coverage on shares of Synlogic in a report on Monday, November 27th. They set an outperform rating and a $20.00 target price for the company. ValuEngine cut shares of Synlogic from a sell rating to a strong sell rating in a report on Friday, February 2nd. Finally, Piper Jaffray Companies began coverage on shares of Synlogic in a report on Monday, January 29th. They set an overweight rating and a $16.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $19.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spark Investment Management LLC purchased a new position in Synlogic in the fourth quarter valued at $105,000. Deutsche Bank AG increased its holdings in Synlogic by 204.0% in the fourth quarter. Deutsche Bank AG now owns 19,672 shares of the biotechnology company’s stock valued at $190,000 after buying an additional 13,200 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Synlogic in the fourth quarter valued at $191,000. Finally, Artal Group S.A. purchased a new position in Synlogic in the fourth quarter valued at $5,335,000. 50.71% of the stock is owned by institutional investors.
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Synlogic Company Profile
Synlogic, Inc, formerly Mirna Therapeutics, Inc, is engaged in the development of a novel class of living treatments, Synthetic Biotic medicines. The Company uses its proprietary Synthetic Biotic development platform. Its pipeline includes Synthetic Biotic medicines for the treatment of rare genetic diseases, such as Urea Cycle Disorder (UCD) and Phenylketonuria (PKU).
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