Synlogic (NASDAQ:SYBX) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Synlogic (NASDAQ:SYBX) in a report released on Wednesday morning, RTT News reports. Wedbush currently has a $20.00 target price on the biotechnology company’s stock.

A number of other equities analysts also recently issued reports on SYBX. BTIG Research started coverage on shares of Synlogic in a research note on Tuesday, February 12th. They set a buy rating and a $22.00 price objective on the stock. Chardan Capital reiterated a buy rating and set a $20.00 price objective on shares of Synlogic in a research note on Tuesday, March 12th. Zacks Investment Research upgraded shares of Synlogic from a hold rating to a buy rating and set a $8.75 price objective on the stock in a research note on Friday, March 15th. Jefferies Financial Group started coverage on shares of Synlogic in a research note on Tuesday, April 30th. They set a buy rating and a $18.00 price objective on the stock. Finally, Piper Jaffray Companies reiterated an overweight rating and set a $16.00 price objective (up from $15.00) on shares of Synlogic in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Synlogic presently has an average rating of Buy and an average price target of $18.68.

NASDAQ SYBX opened at $7.85 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 11.53 and a current ratio of 11.53. Synlogic has a 52-week low of $5.75 and a 52-week high of $14.59. The company has a market cap of $159.19 million, a PE ratio of -3.87 and a beta of 2.31.

Synlogic (NASDAQ:SYBX) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.03. Synlogic had a negative net margin of 2,005.43% and a negative return on equity of 38.93%. The firm had revenue of $0.34 million for the quarter, compared to the consensus estimate of $0.42 million. On average, equities analysts predict that Synlogic will post -2.28 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its position in Synlogic by 5,743.1% during the first quarter. Bank of Montreal Can now owns 12,738 shares of the biotechnology company’s stock valued at $97,000 after acquiring an additional 12,520 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Synlogic during the first quarter valued at approximately $114,000. Rhumbline Advisers lifted its position in Synlogic by 45.7% during the fourth quarter. Rhumbline Advisers now owns 21,753 shares of the biotechnology company’s stock valued at $152,000 after acquiring an additional 6,820 shares during the last quarter. State of Wisconsin Investment Board lifted its position in Synlogic by 29.8% during the first quarter. State of Wisconsin Investment Board now owns 20,900 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Synlogic by 4.6% during the first quarter. Wells Fargo & Company MN now owns 28,411 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 1,245 shares during the last quarter. 81.89% of the stock is owned by institutional investors.

About Synlogic

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.

See Also: Cryptocurrencies

Analyst Recommendations for Synlogic (NASDAQ:SYBX)

Receive News & Ratings for Synlogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synlogic and related companies with MarketBeat.com's FREE daily email newsletter.