Synlogic Inc (NASDAQ:SYBX) – Wedbush dropped their FY2023 earnings estimates for Synlogic in a report released on Wednesday, June 12th. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will post earnings per share of $0.86 for the year, down from their prior estimate of $0.91. Wedbush currently has a “Outperform” rating and a $20.00 price objective on the stock.
Synlogic (NASDAQ:SYBX) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $0.42 million.
Several other brokerages have also recently commented on SYBX. Zacks Investment Research upgraded shares of Synlogic from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research note on Wednesday, May 15th. Chardan Capital set a $20.00 price objective on shares of Synlogic and gave the company a “buy” rating in a research note on Friday, April 12th. Jefferies Financial Group began coverage on shares of Synlogic in a report on Tuesday, April 30th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Piper Jaffray Companies raised their price target on shares of Synlogic from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $18.68.
Shares of SYBX stock opened at $7.77 on Friday. Synlogic has a 1 year low of $5.75 and a 1 year high of $14.59. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.20. The firm has a market cap of $199.30 million, a PE ratio of -3.83 and a beta of 2.31.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Synlogic by 33.4% in the fourth quarter. BlackRock Inc. now owns 1,248,355 shares of the biotechnology company’s stock worth $8,750,000 after acquiring an additional 312,398 shares during the period. Aquilo Capital Management LLC acquired a new stake in shares of Synlogic in the third quarter worth $14,182,000. Vanguard Group Inc. acquired a new stake in shares of Synlogic in the third quarter worth $9,958,000. Dimensional Fund Advisors LP increased its stake in shares of Synlogic by 29.6% in the first quarter. Dimensional Fund Advisors LP now owns 410,278 shares of the biotechnology company’s stock worth $3,114,000 after acquiring an additional 93,622 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Synlogic in the third quarter worth $3,504,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.
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 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.
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