Maxim Group Doubles Price Target on Synthetic Biologics (SYN)

Maxim Group analyst Jason Kolbert reiterated a Buy rating and boosted his price target on Synthetic Biologics (NYSE: SYN) from $3 to $6 citing multiple catalysts to play out.

Kolbert comments, "Yesterday, we met with management to review the company’s pipeline and upcoming catalysts. We conclude that there are now multiple events ahead, including top-line data for Trimesta (oral estriol) in relapsing/remitting multiple sclerosis in April. In addition, SYN-004 (a second-generation product) should progress to the clinic (for the start of a phase 1b/2 trial) for the prevention of C-difficile infection. SYN-005 (mAb) for pertussis (whooping cough) is another catalyst that has shown compelling animal data (whooping cough is an unmet medical need), as well as the development of SYN-010 for C-IBS and related GI disorders and SYN-001 for life-threatening Acinetobacter (gram negative bacterium) infections."

For an analyst ratings summary and ratings history on Synthetic Biologics click here. For more ratings news on Synthetic Biologics click here.

Shares of Synthetic Biologics closed at $3.15 yesterday.

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