Chardan Capital Keeps Their Buy Rating on Synlogic Inc (SYBX)


Chardan Capital analyst Taylor Feehley reiterated a Buy rating on Synlogic Inc (SYBX) today and set a price target of $20. The company’s shares opened today at $8.47.

Feehley wrote:

“We continue to be encouraged by the preclinical studies (1, 2) and the healthy volunteer data which demonstrated measurable effects on biomarkers of engineered bacterial metabolism even in the context of functional host metabolic processes. We also see the work done to standardize the measurement of key analytes across trial sites as valuable groundwork for robust readouts. With respect to anticipated therapeutic thresholds targeted for these products, both are aiming for fairly moderate impacts on toxic metabolite levels, specifically a 15%-20% lowering of blood ammonia in the hepatic encephalopathy patients after SYNB1020 treatment and a doubling (from ~6 g to ~12 g) of protein tolerated in PKU patients treated with SYNB1618. Of note, the trial of SYNB1618 is not powered to detect significant differences Phe lowering, but will inform future endpoints and target profiles.”

According to TipRanks.com, Feehley is a 3-star analyst with an average return of 6.7% and a 57.1% success rate. Feehley covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Evelo Biosciences Inc, and Seres Therapeutics.

Synlogic Inc has an analyst consensus of Strong Buy, with a price target consensus of $20.67.

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Based on Synlogic Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $10.75 million. In comparison, last year the company had a GAAP net loss of $11.7 million.

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Synlogic, Inc. is a clinical-stage biopharmaceutical company, which engages in drug discovery and development platform for synthetic biotic medicines. It focuses on metabolic diseases with the potential to be corrected following oral delivery of a living medicine to the gut.

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