Chardan analyst Keay Nakae lowered the firm’s price target on Synlogic to $5.50 from $7.00 but keeps a Buy rating on the shares. The updated price target reflects a higher projected future share count as modeled future capital raises are expected to be more dilutive due to the decline in share price over the last quarter, the analyst tells investors in a research note. The firm adds however that it remains positive on Synlogic as the company has now reported positive results from three different studies during Q4: SYNB1934 in phenylketonuria, SYNB1353 in homocystinuria, and SYNB8802 in enteric hyperoxaluria.
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Read More on SYBX:
- Synlogic Reports Fourth Quarter and Full Year 2022 Financial Results and Corporate Updates
- Synlogic reports Q4 EPS (24c), consensus (25c)
- Synlogic Receives Positive Opinion on Orphan Designation from the European Medicines Agency for SYNB1934 for the Treatment of Phenylketonuria
- Synlogic receives positive EMA opinion on orphan designation for SYNB1934
- Synlogic Announces Data Presentations at the Society for Inherited Metabolic Disorders (SIMD) 44th Annual Meeting