Zacks Investment Research Lowers Synthetic Biologics Inc (SYN) to Hold
Synthetic Biologics Inc (NYSE:SYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Synthetic Biologics, Inc. is a biotechnology company focused on the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. The Company is engaged in developing product candidates to treat pulmonary arterial hypertension, relapses in multiple sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis. Synthetic Biologics, Inc., formerly known as Adeona Pharmaceuticals, Inc., is headquartered in Ann Arbor, Michigan. “
Other analysts also recently issued reports about the company. Griffin Securities set a $5.80 price target on Synthetic Biologics and gave the stock a “buy” rating in a research report on Wednesday, August 31st. BTIG Research began coverage on Synthetic Biologics in a research report on Thursday, August 25th. They issued a “buy” rating and a $5.00 price target for the company. Finally, FBR & Co reiterated a “buy” rating on shares of Synthetic Biologics in a research report on Friday, August 5th.
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Synthetic Biologics (NYSE:SYN) opened at 1.67 on Wednesday. Synthetic Biologics has a 52-week low of $0.93 and a 52-week high of $3.09. The company’s market capitalization is $152.42 million. The company’s 50 day moving average is $1.69 and its 200-day moving average is $1.93.
Synthetic Biologics (NYSE:SYN) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Equities analysts anticipate that Synthetic Biologics will post ($0.39) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in SYN. KCG Holdings Inc. acquired a new stake in Synthetic Biologics during the second quarter valued at $106,000. Rhumbline Advisers acquired a new stake in Synthetic Biologics during the second quarter valued at $126,000. Schwab Charles Investment Management Inc. acquired a new stake in Synthetic Biologics during the second quarter valued at $213,000. Teachers Advisors Inc. acquired a new stake in Synthetic Biologics during the second quarter valued at $216,000. Finally, Vanguard Group Inc. increased its stake in Synthetic Biologics by 10.5% in the second quarter. Vanguard Group Inc. now owns 2,761,194 shares of the company’s stock valued at $4,970,000 after buying an additional 262,551 shares during the last quarter.
About Synthetic Biologics
Synthetic Biologics, Inc is a clinical-stage company. The Company is engaged in developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases. The Company’s lead product candidates in Phase II development are SYN-010, which is intended to reduce the impact of methane-producing organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C), and SYN-004, which is designed to protect the gut microbiome (gastrointestinal (GI) microflora) from the effects of certain commonly used intravenous (IV) antibiotics for the prevention of C.
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