In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Synthetic Biologics Inc (NYSE: SYN), with a price target of $38. The company’s shares closed yesterday at $2.69, close to its 52-week low of $2.45.
White commented:
“We base our $38 price target on probability-adjusted revenue forecasts for ribaxamase in the prevention of CDI and SYN-010 for the treatment of IBS-C. We use the net present value of our revenue forecast through 2028, apply a 35% probability of success (POS) for ribaxamase in CDI, a 25% POS for the early stage pipeline, and a 3x price/sales multiple to arrive at our price target.”
According to TipRanks.com, White is a 5-star analyst with an average return of 24.9% and a 54.6% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Karyopharm Therapeutics.
Synthetic Biologics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $38.
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Based on Synthetic Biologics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.2 million. In comparison, last year the company had a GAAP net loss of $4.26 million.
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Synthetic Biologics, Inc. is a clinical stage company, which engages in the development of therapeutics to preserve the microbiome to protect and restore the health of patients. Its product portfolio includes SYN-010 and SYN-004.
