Synthetic Biologics (SYN) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Synthetic Biologics (NYSEAMERICAN:SYN) from a buy rating to a hold rating in a report issued on Tuesday.
According to Zacks, “Synthetic Biologics, Inc. is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. The Company is engaged in developing product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis. Synthetic Biologics, Inc., formerly known as Adeona Pharmaceuticals, Inc., is headquartered in Ann Arbor, Michigan. “
Other research analysts have also issued research reports about the stock. HC Wainwright restated a buy rating and set a $35.00 target price on shares of Synthetic Biologics in a research report on Thursday, August 9th. Griffin Securities lowered shares of Synthetic Biologics from a buy rating to a hold rating in a research report on Wednesday, May 9th.
Synthetic Biologics (NYSEAMERICAN:SYN) last announced its earnings results on Wednesday, August 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.40) by $0.35.
A hedge fund recently raised its stake in Synthetic Biologics stock. Blair William & Co. IL grew its holdings in shares of Synthetic Biologics Inc (NYSEAMERICAN:SYN) by 14.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,980,857 shares of the company’s stock after acquiring an additional 255,096 shares during the period. Blair William & Co. IL owned about 1.54% of Synthetic Biologics worth $631,000 as of its most recent SEC filing.
About Synthetic Biologics
Synthetic Biologics, Inc, a late-stage clinical company, develops therapeutics designed to preserve the microbiome to protect and restore the health of patients. Its lead product candidates are in Phase III development, such as SYN-004 that is designed to protect the gut microbiome from the effects of commonly used intravenous (IV) beta-lactam antibiotics for the prevention of C.
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