Synageva BioPharma Corp. Rating Lowered to Neutral at Wedbush (GEVA)
Synageva BioPharma Corp. (NASDAQ:GEVA) was downgraded by equities researchers at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $67.00 price objective on the stock, up from their previous price objective of $55.00. Wedbush’s price objective would suggest a potential downside of 2.87% from the stock’s previous close.
The analysts wrote, “We are downgrading shares of Synageva due to valuation. We continue to see much promise in its technology platform of egg-white expression of potential enzyme replacement therapies (ERTs) for rare diseases, however, we can no longer recommend purchase of GEVA shares at current levels.”
In other Synageva BioPharma Corp. news, Director Julian Baker acquired 1,050,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average price of $56.63 per share, with a total value of $59,461,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Synageva BioPharma Corp. (NASDAQ:GEVA) traded down 1.35% on Monday, hitting $68.05. 65,489 shares of the company’s stock traded hands. Synageva BioPharma Corp. has a one year low of $38.58 and a one year high of $70.50. The stock has a 50-day moving average of $52.87 and a 200-day moving average of $48.34. The company’s market cap is $1.870 billion.
Synageva BioPharma Corp. (NASDAQ:GEVA) last released its earnings data on Monday, August 5th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by $0.05. The company had revenue of $3.41 million for the quarter, compared to the consensus estimate of $2.90 million.
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