Syneos Health NASDAQ SYNH

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Biotechnology is a stream of biology that uses biological systems in living beings or parts of these systems to create different products. It has many applications, from the food industry to the healthcare and pharmaceutical industry. Biotechnology is primarily used in the fields of pharmaceuticals and diagnostics. It is also used in the food and agriculture industry. Biotechnology in health has led to the development and increased production in pharmaceuticals, diagnostics, cosmetology, and dietary supplements. This industry also needs many supporting services that enable it to carry out activities smoothly. These supporting activities are procuring raw materials, arranging necessary resources for Phase 1 to Phase 4 trials, collecting and monitoring data, patient recruitment, etc.

 

Investing in biotechnology stocks is tricky as their success depends upon the successful trials of products that have been designed. Companies that provide biotechnology entities with necessary resources are not affected too much by their product failures as they are not directly linked with their product’s success. These stocks can give you good returns in the long run. As research and development in the biotechnology sector is an ongoing process, the need for ancillary services is always felt, thereby keeping up demand for such services. As long as these services are in demand, the stock has the potential to perform well.

 

Syneos Health Inc. is one such company providing support services to biotechnology companies. It operates as an integrated biopharmaceutical solutions company in North America, Europe, the Middle East, Africa, the Asia Pacific region, and Latin America. The company was incorporated in 2010 and is headquartered in Morrisville, North Carolina. The company was earlier known as INC Research Holdings Inc but later changed its name to Syneos Health Inc in 2018.

 

The company operates in two segments- Clinical Solutions and Commercial Solutions. The Clinical Solutions segment offers various clinical development services, full-service global studies, clinical monitoring, investigator recruitment, patient recruitment, data management, and study start-up to assist customers with drug development. The Commercial Solutions segment of the company provides commercialization services, including medication adherence, communications, and consulting services. Syneos Health serves companies in pharmaceutical, biotechnology, and medical devices industries.

 

Syneos Health is listed on the Nasdaq exchange with the symbol ‘SYNH’. The NASDAQ: SYNH stock at https://www.webull.com/quote/nasdaq-synh is currently traded for $60.78 on the exchange. The company has a market cap of $6.34 billion. Analysts have arrived at a consensus rating of ‘hold’ on this stock and have set a price target of $65.33, indicating a potential upside of 7.5% from its current price. NASDAQ: SYNH was traded at $57.30 before the covid-19 pandemic. The company reported an EPS of $0.58 for the first quarter of 2020.   You can start investing in stock after checking more stock news.

 

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.

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