BTIG Reiterates Buy on Synthetic Biologics Inc (SYN) Ahead of Upcoming Pipeline Catalysts
In a research report published today, BTIG analyst Tim Chiang reiterated a Buy rating on shares of Synthetic Biologics Inc (NYSEMKT:SYN) with a price target of $5, which implies an upside of 49% from current levels.
Chiang noted, “We reiterate our Buy rating and $5 PT, as we expect more visibility on the Co’s new product pipeline over the next 3 months. Synthetics Biologics two lead product candidates are SYN-010 (modified-release lovastatin for the treatment of IBS-C), and SYN-004 (a 2nd generation oral enzyme for the prevention of C. difficile infection and antibiotic-associated diarrhea. Both of these products are in Phase 2 trials, with readouts expected in 4Q15.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Tim Chiang has a total average return of 24.3% and a 81.8% success rate. Chiang has a 47.7% average return when recommending SYN, and is ranked #189 out of 3765 analysts.
Out of the 5 analysts polled by TipRanks, 4 rate Synthetic Biologics stock a Buy, while 1 rates the stock a Hold. With a return potential of 95.8%, the stock’s consensus target price stands at $6.60.