Chardan Capital Thinks Synlogic Inc’s Stock is Going to Recover

By Carrie Williams

Chardan Capital analyst Taylor Feehley reiterated a Buy rating on Synlogic Inc (SYBXResearch Report) today and set a price target of $20. The company’s shares closed yesterday at $6.27, close to its 52-week low of $5.75.

Feehley said:

“We understand that not only will the collaboration allow for the development of potentially more robust and effective the individual enzyme level, but it may also provide the ability to increase the number of biological functions executed by a single asset through metabolomic optimization and could, in the future, allow for the expansion into additional chassis organisms. Given that “design, build, test” is at the heart of synthetic biology, the ability to expedite this cycle more efficiently while exploring a much broader range of possible genomic variants seems to us to be an all-around positive. This is the 2nd important collaboration for Synlogic announced in the past month, and the 3rd in the life of the company, which continues to validate the approach.”

According to TipRanks.com, Feehley has currently no stars on a ranking scale of 0-5 stars, with an average return of -33.1% and a 0.0% success rate. Feehley covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Kaleido Biosciences Inc, and Evelo Biosciences Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Synlogic Inc with a $18.25 average price target.

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The company has a one-year high of $14.59 and a one-year low of $5.75. Currently, Synlogic Inc has an average volume of 61.78K.

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