Maxim Remains Positive On Synthetic Biologics Following R&D Day
In a research report published today, Maxim Group analyst Jason Kolbert maintained a Buy rating on Synthetic Biologics (NYSE:SYN) with a $6 price target, after the company held an R&D day on September 17 to discuss the plans for SYN-010 indicated for constipation-redominant irritable bowel syndrome (C-IBS).
Kolbert wrote, “KOL Mark Pimentel, MD, delivered the keynote presentation. He described SYN-010 and its discovery and reviewed a decade of research that suggests a cause-and-effect relationship between the microbiome and specifically to the archaea and a linkage to IBS.” The company presentation included an overview of the planned 505(b)(2) regulatory pathway for SYN-010. The initiation of a phase II trial in C-IBS is planned for YE 2014 with top-line data expected in 2H15.”
The analyst concluded, “We left the day with a better understanding of the unmet medical need of IBS and the associated comorbidities and a positive outlook that SYN-010 represents a new approach that has the potential to treat the underlying cause of IBS.”
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 11.6% and a 52.7% success rate. Kolbert has an -14.8% average return when recommending SYN, and is ranked #270 out of 3304 analysts.