Synthetic Biologics (NYSEAMERICAN:SYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $0.50 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 31.58% 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. “
Synthetic Biologics (SYN) traded up $0.01 during trading hours on Wednesday, reaching $0.38. 149,966 shares of the company’s stock were exchanged, compared to its average volume of 902,745. The firm has a market capitalization of $49.23, a price-to-earnings ratio of -2.11 and a beta of 1.30. Synthetic Biologics has a 52-week low of $0.28 and a 52-week high of $1.05.
A number of large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its stake in shares of Synthetic Biologics by 312.1% in the fourth quarter. Citadel Advisors LLC now owns 241,797 shares of the company’s stock worth $122,000 after acquiring an additional 183,120 shares during the last quarter. Virtu Financial LLC raised its stake in shares of Synthetic Biologics by 256.1% in the fourth quarter. Virtu Financial LLC now owns 299,577 shares of the company’s stock worth $152,000 after acquiring an additional 215,440 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in shares of Synthetic Biologics in the fourth quarter worth about $762,000.
WARNING: This news story was published by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3261362/synthetic-biologics-syn-upgraded-by-zacks-investment-research-to-buy.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Synthetic Biologics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synthetic Biologics and related companies with MarketBeat.com's FREE daily email newsletter.