After H.C. Wainwright and Piper Sandler gave Synlogic (NASDAQ: SYBX) a Buy rating last month, the company received another Buy, this time from Chardan Capital. Analyst Keay Nakae reiterated a Buy rating on Synlogic today and set a price target of $10.00. The company’s shares closed last Monday at $3.71.
According to TipRanks.com, Nakae is a 5-star analyst with an average return of 21.4% and a 48.0% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Emergent Biosolutions, and Kaleido Biosciences.
Currently, the analyst consensus on Synlogic is a Strong Buy with an average price target of $10.75, implying a 205.4% upside from current levels. In a report issued on September 7, H.C. Wainwright also reiterated a Buy rating on the stock with a $9.00 price target.
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Based on Synlogic’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $246K and GAAP net loss of $14.49 million. In comparison, last year the company earned revenue of $445K and had a GAAP net loss of $15.54 million.
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Synlogic, Inc. is a clinical-stage biopharmaceutical company, which engages in drug discovery and development of synthetic biotic medicines. It focuses on SYNB1020 and SYNB1618, which are orally administered and target hyperammonemia and phenylketonuria. It also works on SYNB1891, an intratumorally administered which treats cancer. The company was founded by Jim Collins and Tim Lu on August 28, 2017, and is headquartered in Cambridge, MA.
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