FBR Reiterates Outperform On Synthetic Biologics Inc (SYN) Following Meeting With Management

In a research report issued Friday, FBR analyst Edward White reiterated an Outperform rating on shares of Synthetic Biologics Inc (NYSEMKT:SYN), with a price target of $10, following a meeting with management at FBR New Prescriptions conference. Synthetic shares closed yesterday at $2.39, down $0.12 or 4.78%.

White noted, “We received an update on upcoming potential milestones and the future clinical plans for SYN-004 and SYN-010. Our key takeaways are as follows: we would not be surprised to see a partnership or licensing deal for one of the company’s assets in the near term, an interim analysis of the Phase IIb proof-of-concept trial of SYN-004 could potentially occur in the next few weeks, and breath methane will not be used in the inclusion criteria in a Phase III program of SYN-010. We think that the first two takeaways represent potential catalysts that could drive the shares higher in the near term.”

“In our view, SYN-010 could make sense for a larger pharmaceutical company with a presence in the IBS space already that can offer SYN-010 in addition to an IBS-D drug. We believe that SYN-010 could be used in conjunction with other IBS-C drugs as well as a maintenance therapy,” the analyst added.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Edward White has a yearly average return of 6.2% and a 63.0% success rate. White has a 35.5% average return when recommending SYN, and is ranked #689 out of 3907 analysts.

As of this writing, all the 6 analysts polled by TipRanks rate Synthetic Biologics stock a Buy. With a return potential of 218%, the stock’s consensus target price stands at $7.60.


Stay Ahead of Everyone Else

Get The Latest Stock News Alerts