Synairgen Plc Share Forecast September 2021 – Time to Buy SNG Stock?

As coronavirus vaccines rollout accelerate, many biotech companies have joined the race to bring their own drugs into the market. Synairgen plc, a Southampton biotech spin-out is one such company that is striving to develop, trial, and distribute COVID-19 treatment drugs. Synairgen is known for its expertise in respiratory drug development. Recently Synairgen shares have seen a major uptick in the market which is why we will discuss in the following whether it should be on your radar or not?

Synairgen Plc – Technical Analysis

The UK-based biotech company Synairgen holds a license and a collaboration agreement with Pharmaxis Ltd to develop one of its most popular drugs for chronic obstructive pulmonary disease dubbed as LOXL2 inhibitor. Since its establishment, Synairgen has been working on an inhaled treatment for patients suffering from severe lung infections. The company has recently created a buzz months ago when it commenced dosing of inhaled interferon beta product as a trial in COVID-19 outpatients.

So far from what we have seen in the past two years is that COVID-19 changed people’s lives but also presented an opportunity for medical companies to make a fortune. Synairgen’s current market capitalisation is £344.2 million with total assets worth £88.5 million. The total worth of SNG’s outstanding shares comes close to £201.3 million.

From a technical perspective, however, SNG shares are currently in the strong buy zone. Investors could be interested in this potential market opportunity which is expected to grow further in the days to come. Several oscillators and moving averages including SMA (162.3), MACD (3.5), EMA (163.3), and RSI (60.9) are favouring the company shares at the moment. It is still too early to predict a breakout but SNG movements are far too encouraging to be missed.

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Recent Developments

In July, Synairgen started human trials for its first Indian variant COVID treatment and much to shareholders’ delight, the trials came out successful. Synairgen’s treatment and drugs have proven to be highly effective for patients who needed recovery from the virus. The biotech company even started dosing patients for the first time for Indian patients.

Synairgen has developed its drug with interferon beta that would help boost the immune system when a person comes into contact with the COVID virus. Throughout the globe, the company has planned for three trials where this drug is being used to treat different COVID variants such as Indian and Brazilian. The chief executive of Richard Marsden expressed his confidence in the company’s second phase trial’s data that came out to be extremely strong. Marsden further said that he thinks that the third phase trial would be “transformational” for the company.

Should You Buy SNG Shares?

The Synairgen company was founded by three academic professors in the year 2004 who remain significant shareholders of the company. For the past 15 years, this biotech company has expertly developed its drugs to perfection. But once the pandemic hit the world, their focus shifted to experimental treatment for COVID.

Synairgen has institutional investors who hold a significant portion of the company’s share and that gives any new investors credibility in the investment made in the company. Though it is still a small-sized company focusing on treatment for rapid COVID recovery, it surely has the required potential to emerge as a worthwhile investment in the future.

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