Maxim Maintains Buy On Synthetic Biologics Following 2Q14 Results
In a research report published August 14, Maxim Group analyst Jason Kolbert reaffirmed a Buy rating on Synthetic Biologics (SYN) with a $6 price target, following the company’s second-quarter results, burning $4.6M and ending with just under $8M in cash.
Kolbert noted, “Despite Synthetic Biologics’ recent data (relapse rates show a p-value of 0.1527) in a PII study, we feel investors are not giving credit to the company, as the PII trial was never intended (nor powered) to produce a statistically significant result. We believe that if one examines the totality of the data, we see an approval drug that has the potential to impact, not only the symptoms of MS, but the disease progression (brain lesions and cognition). We expect to see additional data (positive) at the ACTRIMS-ECTRIMS meeting in Boston on September 12, 2014.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 9.2% and a 54.4% success rate. Kolbert has a -9.8% average return when recommending SYN, and is ranked #376 out of 3242 analysts.