Synthetic Biologics Inc (NYSEMKT:SYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, May 10th. The firm presently has a $0.50 price target on the stock. Zacks Investment Research‘s price target indicates a potential downside of 25.94% from the stock’s previous close.
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 equities research analysts have also weighed in on the stock. William Blair reiterated an “outperform” rating and set a $5.00 target price on shares of Synthetic Biologics in a research note on Sunday, March 5th. FBR & Co reiterated an “overweight” rating and set a $6.00 target price on shares of Synthetic Biologics in a research note on Saturday, January 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $4.46.
Shares of Synthetic Biologics (NYSEMKT:SYN) traded up 6.6004% during trading on Wednesday, reaching $0.6751. The company’s stock had a trading volume of 4,331,447 shares. The company’s market capitalization is $82.29 million. The firm’s 50-day moving average price is $0.54 and its 200-day moving average price is $0.73. Synthetic Biologics has a one year low of $0.41 and a one year high of $2.12.
Synthetic Biologics (NYSEMKT:SYN) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. On average, equities analysts anticipate that Synthetic Biologics will post ($0.21) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Third Security LLC purchased a new position in shares of Synthetic Biologics during the fourth quarter valued at $10,095,000. State Street Corp increased its position in shares of Synthetic Biologics by 0.5% in the fourth quarter. State Street Corp now owns 954,323 shares of the company’s stock valued at $727,000 after buying an additional 5,195 shares in the last quarter. MSD Partners L.P. increased its position in shares of Synthetic Biologics by 32.1% in the fourth quarter. MSD Partners L.P. now owns 4,118,402 shares of the company’s stock valued at $3,141,000 after buying an additional 1,000,000 shares in the last quarter. Norges Bank purchased a new position in shares of Synthetic Biologics during the fourth quarter valued at $356,000. Finally, Bank of New York Mellon Corp increased its position in shares of 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 valued at $166,000 after buying an additional 7,962 shares in the last quarter.
Synthetic Biologics Company Profile
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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