Mizuho Securities Thinks Syneos Health’s Stock is Going to Recover

Mizuho Securities analyst Ann Hynes reiterated a Buy rating on Syneos Health (SYNHResearch Report) on April 29 and set a price target of $94.00. The company’s shares closed last Monday at $72.30, close to its 52-week low of $66.77.

According to TipRanks.com, Hynes is a 5-star analyst with an average return of 9.6% and a 60.7% success rate. Hynes covers the Healthcare sector, focusing on stocks such as Molina Healthcare, Acadia Healthcare, and Quest Diagnostics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Syneos Health with a $92.86 average price target, which is a 27.8% upside from current levels. In a report issued on April 18, Robert W. Baird also maintained a Buy rating on the stock with a $111.00 price target.

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Based on Syneos Health’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.37 billion and net profit of $75.96 million. In comparison, last year the company earned revenue of $1.14 billion and had a net profit of $91.89 million.

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Syneos Health, Inc. provides outsourced clinical development and commercialization services to biopharmaceutical companies. It operates through the following business segments: Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers clinical development services spanning Phase I to Phase IV, including global studies, as well as unbundled service offerings such as clinical monitoring, investigator recruitment, patient recruitment, data management, and study startup to assist customers with their drug development process. The Commercial Solutions segment provides commercialization services, including outsourced field selling solutions, medication adherence, communications, and consulting services. The company was founded on August 13, 2010 and is headquartered in Morrisville, NC.

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