H.C. Wainwright Sticks to Its Buy Rating for Synlogic Inc (SYBX)


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Synlogic Inc (SYBX), with a price target of $20. The company’s shares closed yesterday at $7.75, close to its 52-week low of $7.20.

Selvaraju wrote:

“We calculate an enterprise value of $515M, comprised of $385M for SYNB1020 in UCD and hyperammonemia in cirrhotic liver disease and I/O portfolio. This yields a price objective of $20.00 per share, assuming 25.6M shares outstanding as of end-2Q19. Risks include, but are not limited to: (1) slower-than- anticipated lead optimization to generate viable candidates for clinical development; (2) negative results from proof-of-concept clinical trials; (3) slower-than-anticipated clinical testing; and (4) inability to achieve approval for clinical candidates.”

According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -13.3% and a 23.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Fennec Pharmaceuticals Inc.

Synlogic Inc has an analyst consensus of Strong Buy, with a price target consensus of $21.33, a 175.2% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $18 price target.

.

See today’s analyst top recommended stocks >>

Based on Synlogic Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.59 million. In comparison, last year the company had a GAAP net loss of $11.92 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts