Zacks Investment Research Lowers Synthetic Biologics Inc (SYN) to Hold
Synthetic Biologics Inc (NYSEMKT:SYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
A number of other research firms have also issued reports on SYN. ValuEngine lowered shares of Synthetic Biologics from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. William Blair restated an “outperform” rating and issued a $5.00 target price on shares of Synthetic Biologics in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Synthetic Biologics has a consensus rating of “Hold” and an average price target of $4.46.
Synthetic Biologics (SYN) opened at 0.5173 on Tuesday. The stock’s market capitalization is $63.06 million. The stock has a 50 day moving average of $0.61 and a 200 day moving average of $0.70. Synthetic Biologics has a 1-year low of $0.41 and a 1-year high of $1.90.
Synthetic Biologics (NYSEMKT:SYN) last released its quarterly earnings data on Thursday, May 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05. On average, analysts expect that Synthetic Biologics will post ($0.21) earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Synthetic Biologics during the fourth quarter worth about $356,000. Bank of New York Mellon Corp raised its position in Synthetic Biologics by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 263,598 shares of the company’s stock worth $166,000 after buying an additional 7,962 shares during the period. UBS Group AG raised its position in Synthetic Biologics by 10.3% in the first quarter. UBS Group AG now owns 214,357 shares of the company’s stock worth $135,000 after buying an additional 20,038 shares during the period. Finally, Creative Planning raised its position in Synthetic Biologics by 65.4% in the second quarter. Creative Planning now owns 177,000 shares of the company’s stock worth $100,000 after buying an additional 70,000 shares during the period.
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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