Zacks Investment Research upgraded shares of Synlogic (NASDAQ:SYBX) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has $8.75 price target on the biotechnology company’s stock.

According to Zacks, “Synlogic, Inc. engaged in the development of a novel class of living Synthetic Biotic(TM) medicines based on its proprietary drug discovery and development platform. The company’s pipeline includes Synthetic Biotic medicines for the treatment of rare genetic diseases such as Urea Cycle Disorder and Phenylketonuria. In addition, the company is leveraging the broad potential of its platform to create Synthetic Biotic medicines for the treatment of other diseases, such as liver disease, inflammatory and immune disorders and cancer. It is collaborating with AbbVie to develop Synthetic Biotic-based treatments for inflammatory bowel disease. Synlogic Inc., formerly known as Mirna Therapeutics Inc., is based in Cambridge, Massachusetts. “

A number of other research firms have also recently weighed in on SYBX. Jefferies Financial Group started coverage on Synlogic in a research note on Tuesday, April 30th. They issued a buy rating and a $18.00 price target on the stock. BTIG Research started coverage on Synlogic in a research note on Tuesday, February 12th. They issued a buy rating and a $22.00 price target on the stock. Finally, Chardan Capital set a $20.00 price target on Synlogic and gave the company a buy rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Synlogic presently has an average rating of Buy and an average target price of $18.84.

Shares of NASDAQ SYBX traded up $0.20 during trading hours on Wednesday, hitting $8.46. The company had a trading volume of 641 shares, compared to its average volume of 64,101. The company has a market cap of $210.48 million, a PE ratio of -4.07 and a beta of 2.40. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.20. Synlogic has a 1-year low of $5.75 and a 1-year high of $14.59.

Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.03. Synlogic had a negative return on equity of 38.93% and a negative net margin of 2,005.43%. The company had revenue of $0.34 million during the quarter, compared to the consensus estimate of $0.42 million. As a group, sell-side analysts predict that Synlogic will post -2.25 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Aquilo Capital Management LLC purchased a new position in shares of Synlogic in the 3rd quarter worth about $14,182,000. BlackRock Inc. acquired a new stake in Synlogic in the 3rd quarter valued at approximately $13,301,000. Vanguard Group Inc acquired a new stake in Synlogic in the 3rd quarter valued at approximately $9,958,000. Vanguard Group Inc. acquired a new stake in Synlogic in the 3rd quarter valued at approximately $9,958,000. Finally, JPMorgan Chase & Co. acquired a new stake in Synlogic in the 3rd quarter valued at approximately $3,504,000. Hedge funds and other institutional investors own 81.12% of the company’s stock.

Synlogic Company Profile

Synlogic, Inc a clinical-stage biopharmaceutical company, focuses on the discovery and development of synthetic biotic medicines to treat metabolic, inflammatory, and cancer diseases in the United States. Its lead therapeutic programs include SYNB1020, an oral therapy for the treatment of hyperammonemia, which includes patients with liver diseases, such as hepatic encephalopathy, as well as patients with urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.

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