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. “
Several other research analysts also recently weighed in on SYN. FBR & Co reiterated a buy rating on shares of Synthetic Biologics in a research note on Friday, August 5th. BTIG Research assumed coverage on Synthetic Biologics in a report on Thursday, August 25th. They set a buy rating and a $5.00 price objective on the stock. Finally, Griffin Securities set a $5.80 price objective on Synthetic Biologics and gave the stock a buy rating in a report on Wednesday, August 31st.
Synthetic Biologics (NYSE:SYN) remained flat at $1.66 during mid-day trading on Wednesday. The stock had a trading volume of 48,155 shares. Synthetic Biologics has a 52-week low of $0.93 and a 52-week high of $3.09. The stock has a 50 day moving average price of $1.69 and a 200 day moving average price of $1.93. The stock’s market cap is $151.51 million.
Synthetic Biologics (NYSE:SYN) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Equities research analysts forecast that Synthetic Biologics will post ($0.39) EPS for the current year.
A number of hedge funds have recently modified their holdings of the company. KCG Holdings Inc. bought a new stake in shares of Synthetic Biologics during the second quarter worth about $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, BlackRock Investment Management LLC boosted its stake in Synthetic Biologics by 2,517.2% in the second quarter. BlackRock Investment Management LLC now owns 282,158 shares of the company’s stock valued at $508,000 after buying an additional 271,377 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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