Syneos Health (SYNH) has agreed to acquire RxDataScience, a healthcare-focused data analytics, data management and artificial intelligence (AI) company. Syneos provides outsourced clinical development and commercialization services to biopharmaceutical companies. 

With this deal, Syneos will have access to RxDataScience’s platform and will be able to transform large volumes of data into strategic and actionable insights. Moreover, Syneos’ offerings will expand to include product lifecycle solutions such as scientific computing for R&D, patient journey, decentralized trials, RWE, predictive analytics and commercial market research.

Syneos’ data science abilities will also be bolstered with the addition of RxDataScience. Furthermore, RxDataScience is said to be complementary to Syneos’ Kinetic, a modern customer engagement capability that makes fully integrated omnichannel solutions accessible to biopharmaceutical organizations. (See Top Smart Score Stocks on TipRanks)

Syneos Health CEO, Alistair Macdonald, said, “Combining our end-to-end services and deep behavioral and therapeutic expertise with their AI and data-science capabilities will generate customer strategies to accelerate product development and time to market.”

RxDataScience will be part of the Syneos Health Dynamic Assembly^® network, an open ecosystem of best-of-breed data and technology collaborators designed to strategically address the nuances of unique customer engagements, providing an “always on” innovation environment.

On August 30, 2021, Robert W. Baird analyst Eric Coldwell maintained a Buy rating on Syneos with a price target of $115 (upside potential of 33.6% from current level). The analyst expects Syneos to post earnings of $0.40 per share for the third quarter of 2021.

Consensus among analysts is a Strong Buy based on 6 Buys and 1 Hold. The average Syneos price target of $102.57 implies upside potential of 19.1%.

Investors should always be aware of the risks involved in any stock. According to the new TipRanks’ Risk Factors tool, Syneos stock is at risk mainly from three factors: Finance and Corporate, Legal and Regulatory, and Ability to Sell, which contribute 40%, 16% and 13%, respectively, to the total 62 risks identified. Under the Finance and Corporate risk category, SYNH has 25 risks, details of which can be found on the TipRanks website.

Related News:
Williams Prices $1.25B Senior Notes Offering
Acuity Brands Posts Upbeat Q4 Results
Quipt Bolsters Footprint in Mississippi; Street Says Buy

The post Syneos Bolsters Data Science Abilities with RxDataScience Buyout appeared first on TipRanks Financial Blog.

----------------------------

By: Radhika Saraogi
Title: Syneos Bolsters Data Science Abilities with RxDataScience Buyout
Sourced From: blog.tipranks.com/syneos-bolsters-data-science-abilities-with-rxdatascience-buyout/
Published Date: Thu, 07 Oct 2021 10:17:17 +0000

Read More