H.C. Wainwright Thinks Synlogic’s Stock is Going to Recover
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Synlogic (SYBX) today and set a price target of $13.00. The company’s shares closed last Thursday at $2.24, close to its 52-week low of $1.35.
According to TipRanks.com, Selvaraju is a top 100 analyst with an average return of 28.5% and a 57.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Black Diamond Therapeutics, and Biospecifics Technologies.
Currently, the analyst consensus on Synlogic is a Moderate Buy with an average price target of $13.00, which is a 504.7% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock.
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Based on Synlogic’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $100K and GAAP net loss of $15.83 million. In comparison, last year the company earned revenue of $338K and had a GAAP net loss of $12.95 million.
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Synlogic, Inc. is a clinical-stage biopharmaceutical company, which engages in drug discovery and development of synthetic biotic medicines. It focuses on SYNB1020 and SYNB1618, which are orally administered and target hyperammonemia and phenylketonuria. It also works on SYNB1891, an intratumorally administered which treats cancer. The company was founded by Jim Collins and Tim Lu on August 28, 2017, and is headquartered in Cambridge, MA.