Syneos Health (SYNH) revealed that it has acquired StudyKIK, a technology-enabled clinical trial recruitment and retention company. Syneos provides outsourced clinical development and commercialization services to biopharmaceutical companies.
The acquisition is expected to bolster Syneos’ ability to deliver technology-enabled, insight-powered solutions. StudyKiK will help Syneos add new scale and capabilities to improve the patient journey while optimizing data science and behavioral insights to support commercialization for products. (See Syneos stock charts on TipRanks)
The CEO of Syneos, Alistair Macdonald, said, “We are excited to welcome the StudyKIK team to the Syneos Health family. Together we’ll accelerate product development by improving stakeholder experiences, realizing efficiencies in patient recruitment, engagement, improved access and diversity.”
Last month, Robert W. Baird analyst Eric Coldwell maintained a Buy rating on Syneos with a price target of $115 (upside potential of 20.9% from current level). The analyst expects Syneos to post earnings per share of $0.40 for the third quarter of 2021.
Consensus among analysts is a Strong Buy based on 6 Buys and 1 Hold. The average Syneos price target of $102.57 implies upside potential of 7.8% to current levels.
SYNH scores a 9 out of 10 on TipRanks’ Smart Score rating system, suggesting that the stock is likely to outperform market averages.