Wall Street analysts predict that Synlogic Inc (NASDAQ:SYBX) will report sales of $200,000.00 for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Synlogic’s earnings, with the highest sales estimate coming in at $300,000.00 and the lowest estimate coming in at $110,000.00. Synlogic reported sales of $110,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 81.8%. The business is scheduled to announce its next quarterly earnings results on Monday, November 12th.
According to Zacks, analysts expect that Synlogic will report full year sales of $1.01 million for the current year, with estimates ranging from $830,000.00 to $1.31 million. For the next fiscal year, analysts expect that the firm will post sales of $970,000.00, with estimates ranging from $440,000.00 to $2.00 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Synlogic.
Synlogic (NASDAQ:SYBX) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.06). Synlogic had a negative return on equity of 43.51% and a negative net margin of 5,949.04%. The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.22 million.
A number of research analysts recently issued reports on SYBX shares. Zacks Investment Research raised shares of Synlogic from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Tuesday, August 14th. Citigroup lifted their price objective on shares of Synlogic to $26.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. HC Wainwright set a $20.00 price objective on shares of Synlogic and gave the company a “buy” rating in a research note on Tuesday, October 9th. Wedbush reissued an “outperform” rating on shares of Synlogic in a research note on Friday, September 7th. Finally, reissued a “buy” rating and issued a $18.00 price objective on shares of Synlogic in a research note on Tuesday, July 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Synlogic presently has an average rating of “Buy” and an average target price of $17.93.
Shares of SYBX opened at $9.04 on Friday. The company has a market cap of $235.49 million, a PE ratio of -1.54 and a beta of 1.71. Synlogic has a 12 month low of $7.27 and a 12 month high of $16.70.
In related news, insider Paul Francis Miller sold 3,000 shares of Synlogic stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $12.55, for a total value of $37,650.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 12,000 shares of company stock worth $135,390 over the last three months. 23.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp grew its stake in shares of Synlogic by 473.8% during the second quarter. Northern Trust Corp now owns 152,491 shares of the biotechnology company’s stock worth $1,499,000 after buying an additional 125,916 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Synlogic during the first quarter worth $538,000. Element Capital Management LLC bought a new stake in shares of Synlogic during the first quarter worth $182,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Synlogic during the first quarter worth $120,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.
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, which is in Phase I clinical trial for the treatment of patients with liver disease and hepatic encephalopathy, and urea cycle disorders; and SYNB1618, an oral therapy that is in Phase I/IIa clinical trial to treat phenylketonuria.
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