UPDATE: Maxim Group Starts Synthetic Biologics (SYN) at Buy

(updating comment)

Maxim Group initiates coverage on Synthetic Biologics (NYSE: SYN) with a Buy rating and a price target of $1.50.

The analyst comments "We are initiating coverage of Synthetic Biologics with a Buy rating and $1.50 price target. The company is focused on the gut microbiome with two lead assets: SYN-010 for irritable bowel syndrome with constipation (IBS-C) and SYN-004 (ribaxamase) for acute graft versus host disease (aGvHD). SYN-010 is in a P2b trial with an interim futility analysis in 3Q20 and data in late 2020/early 2021. The compound has demonstrated a potentially best-in-class profile in P2a, with improved efficacy and safety over available options like Linzess, Amitiza, Trulance, and Ibsrela. Ribaxamase is being developed for prevention of aGvHD in hematopoietic stem cell transplant (HCST) patients receiving IV beta-lactams. A P1b/2a trial is planned for 1Q21. After the initial indication, there is an opportunity to expand into the larger infection control markets. Conclusion. Synthetic Biologics is a late-stage biotech with multiple candidates to address disease associated with the gut microbiome. At a $9M market cap, we see significant upside for the shares as data emerges."

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 $0.48 yesterday.

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