Piper Jaffray Thinks Synlogic Inc’s Stock is Going to Recover

By Jason Carr

Piper Jaffray analyst Edward Tenthoff reiterated a Buy rating on Synlogic Inc (NASDAQ: SYBX) today and set a price target of $15. The company’s shares closed on Friday at $9.70, close to its 52-week low of $8.76.

According to TipRanks.com, Tenthoff is a 4-star analyst with an average return of 8.5% and a 43.1% success rate. Tenthoff covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Anthera Pharmaceuticals, and Vertex Pharmaceuticals.

Currently, the analyst consensus on Synlogic Inc is Moderate Buy and the average price target is $17.50, representing an 80.4% upside.

In a report issued on April 4, H.C. Wainwright also reiterated a Buy rating on the stock with a $20 price target.

Based on Synlogic Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $111K and GAAP net loss of $11.7 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $4.98 million.

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Synlogic, Inc. engages in the development of a novel class of living medicines intended to treat a broad range of human diseases, ranging from genetic and acquired metabolic disorders to inflammation and cancer. The company was founded on August 28, 2017, and is headquartered in Cambridge, MA.