FBR Analyst Chimes In On Synthetic Biologics Inc (SYN) Following Positive Phase II FDA Meeting
On Tuesday morning, Synthetic Biologics Inc (NYSEMKT:SYN) made a positive stride with the completion of an End of Phase 2 meeting with the FDA for SYN-010, a proprietary, modified-release formulation of lovastatin lactone that is intended to treat the underlying cause of irritable bowel syndrome with constipation (IBS-C). In light of this update, FBR analyst Edward White reiterates a Buy rating without suggesting a price target.
As Synthetic works side-by-side along the FDA for securing plans and designs to the next phase, a pivotal Phase IIb/III clinical trial for the pipeline drug, White notes the biotech firm’s objective lies in furthering investigative dose escalation coupled with a sensitivity analysis to evaluate breath methane levels in patients participating in the first study.
White believes, “We expect there will be an interim look at the data within the protocol and believe the trial will begin in 2H16. We will remain focused on Synthetic’s development time lines for both SYN-010 and Ribaxamase (SYN-004) during the 2Q16 results call on August 3 and look to hear more about the SYN-010 Phase IIb/III trial design.”
As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, 3-star analyst Edward White is ranked #1,657 out of 4,085 analysts. White upholds a 47% success rate and earns 1.5% in his average annual returns. However, the analyst loses 13.5% in average profits when recommending SYN.
TipRanks analytics exhibit SYN is a Buy. Based on 2 analysts polled in the last 3 months, one rates a Buy and one maintains a Hold. The consensus price target for Synthetic Biologics stands at $14.00, marking a 738% upside from where the stock is currently trading.
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