Synergy Pharmaceuticals Inc. (SGYP) Major Shareholder Paulson & Co. Inc. Sells 54,300 Shares
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) major shareholder Paulson & Co. Inc. sold 54,300 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $5.69, for a total value of $308,967.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Paulson & Co. Inc. also recently made the following trade(s):
- On Monday, September 19th, Paulson & Co. Inc. sold 3,473,713 shares of Synergy Pharmaceuticals stock. The shares were sold at an average price of $5.61, for a total value of $19,487,529.93.
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) opened at 5.31 on Friday. The stock’s 50 day moving average price is $5.15 and its 200 day moving average price is $3.92. Synergy Pharmaceuticals Inc. has a 12 month low of $2.50 and a 12 month high of $7.15. The company’s market capitalization is $952.86 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. Equities research analysts anticipate that Synergy Pharmaceuticals Inc. will post ($1.03) earnings per share for the current fiscal year.
A number of research firms recently issued reports on SGYP. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price objective on shares of Synergy Pharmaceuticals in a research note on Sunday, July 17th. BTIG Research restated a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Friday, September 16th. Rodman & Renshaw restated a “buy” rating and issued a $15.00 target price on shares of Synergy Pharmaceuticals in a research note on Thursday, September 8th. Finally, HC Wainwright set a $15.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, September 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.75.
Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Synergy Pharmaceuticals by 8.3% in the first quarter. Geode Capital Management LLC now owns 719,734 shares of the biopharmaceutical company’s stock worth $1,986,000 after buying an additional 55,327 shares during the period. California State Teachers Retirement System increased its position in Synergy Pharmaceuticals by 79.5% in the second quarter. California State Teachers Retirement System now owns 380,444 shares of the biopharmaceutical company’s stock valued at $1,446,000 after buying an additional 168,486 shares during the period. Nantahala Capital Management LLC bought a new position in Synergy Pharmaceuticals during the first quarter valued at $828,000. Landscape Capital Management L.L.C. increased its position in Synergy Pharmaceuticals by 1,693.9% in the first quarter. Landscape Capital Management L.L.C. now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $2,760,000 after buying an additional 944,254 shares during the period. Finally, Societe Generale bought a new position in Synergy Pharmaceuticals during the second quarter valued at $4,729,000. Hedge funds and other institutional investors own 56.67% of the company’s stock.
Synergy Pharmaceuticals Company Profile
Synergy Pharmaceuticals Inc (Synergy) is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease.
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