Griffin Slashes Price Target for Synthetic Biologics (SYN); Here’s Why

While Synthetic Biologics Inc (NYSEMKT:SYN) investors are waiting for phase 2 results of the company’s flagship drug SYN-004, Griffin analyst Keith Markey is out with a research note, reiterating a Buy rating, while slashing the price target to $5.75 (from $9.00), which implies an upside of 250% from current levels.

Markey explained, “We are maintaining our BUY rating on SYN shares, given the likelihood of valuation-driving news in the months ahead. But we’ve lowered our price target to $5.75 to allow additional time for clinical development of the two lead drugs.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Keith Markey has a yearly average return of -29.7% and a 17% success rate. Markey has a -19.1% average return when recommending SYN, and is ranked #3987 out of 4129 analysts.

As usual, we recommend taking analyst notes with a grain of salt. Out of the 6 analysts polled by TipRanks, 5 rate Synthetic Biologics stock a Buy, while 1 rates the stock a Hold. With a return potential of 479%, the stock’s consensus target price stands at $9.50.

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