Synlogic Posts Lower-Than-Expected 4Q Loss; Shares Gain
Synlogic rose 1.3% after the clinical-stage pharmaceutical company reported a smaller-than-feared loss in the fourth quarter.
Synlogic (SYBX) incurred a loss of $0.39 per share in 4Q, compared to the $0.40 loss per share estimated by analysts. A loss of $0.37 per share was recorded in the same quarter last year.
The company’s research and development expenses increased marginally on a year-over-year basis to $11.4 million in the quarter, while total general and administrative expenses declined 5.7% to $3.3 million.
Synlogic CEO Aoife Brennan said, “We now have demonstrated proof of mechanism in humans from both of our lead metabolic programs, Phenylketonuria (PKU) and Enteric Hyperoxaluria, and expect to have important clinical readouts in patients from both programs later this year.” (See Synlogic stock analysis on TipRanks)
Following the 4Q results, JonesTrading analyst Lina Kaminski maintained a Buy rating and a price target of $15 (281.7% upside potential) on the stock.
Kaminski continues to view “SYBX as a unique buying opportunity, with 2H21E PoC data readouts for SYNB1618 in phenylketonuria (PKU) and ph.1b SYNB8802 in enteric hyperoxaluria patients.”
Synlogic shares have exploded 95.5% over the past year, while the stock still scores a Strong Buy consensus rating based on 3 unanimous Buys. That’s alongside an average analyst price target of $13.33, which implies 239.2% upside potential to current levels.
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