Synlogic Inc (SYBX) Received its Third Buy in a Row


After BTIG and Oppenheimer gave Synlogic Inc (NASDAQ: SYBX) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Synlogic Inc today and set a price target of $20. The company’s shares closed yesterday at $7.74.

Selvaraju noted:

“We have lowered our 2019 R&D spending estimate to $46M from the prior $70M, and our 2020 R&D spending projection to $66M from the previous $90M. Management indicated during the earnings conference call yesterday morning that R&D expenditures in 2019 would likely be somewhat comparable to 2018. Synlogic reported a net loss per share of $2.03 for 2018 vs. our original estimate of a net loss per share of $2.17. We are revising our net loss per share projections for 2019 and 2020 to $2.40 and $2.93, respectively, vs. the previous $3.40 and $3.74 estimates we originally had in our model. Synlogic ended 2018 with $122.7M in cash and equivalents—we believe this to be sufficient to fund operations through 2020. We reiterate our Buy rating and 12-month target of $20.00.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.6% and a 37.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Synlogic Inc has an analyst consensus of Strong Buy, with a price target consensus of $19.25, implying a 148.7% upside from current levels. In a report released yesterday, Chardan Capital also reiterated a Buy rating on the stock with a $20 price target.

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The company has a one-year high of $14.59 and a one-year low of $5.75. Currently, Synlogic Inc has an average volume of 96.41K.

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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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