Synergy Pharmaceuticals Inc. (SGYP) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Synergy Pharmaceuticals, Inc. is a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. Its lead drug candidate plecanatide is a guanylyl cyclase C receptor agonist, to treat GI disorders, primarily chronic constipation and constipation-predominant- irritable bowel syndrome. It is also engaged in developing receptor agonist for the treatment of gastrointestinal inflammatory diseases, such as ulcerative colitis. Synergy Pharmaceuticals, Inc. is headquartered in New York, New York. “
A number of other brokerages have also issued reports on SGYP. Rodman & Renshaw reiterated a buy rating and issued a $15.00 price target on shares of Synergy Pharmaceuticals in a report on Thursday, September 8th. BTIG Research reiterated a buy rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, September 16th. Canaccord Genuity reiterated a buy rating and issued a $13.00 price target on shares of Synergy Pharmaceuticals in a report on Sunday, July 17th. Finally, HC Wainwright set a $15.00 price target on Synergy Pharmaceuticals and gave the company a buy rating in a report on Thursday, September 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Synergy Pharmaceuticals has a consensus rating of Buy and an average target price of $9.75.
Synergy Pharmaceuticals (NASDAQ:SGYP) traded down 1.36% on Wednesday, reaching $5.07. The company had a trading volume of 836,697 shares. The stock’s 50-day moving average is $5.24 and its 200-day moving average is $4.08. Synergy Pharmaceuticals has a 52 week low of $2.50 and a 52 week high of $7.15. The company’s market capitalization is $909.79 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.03. Equities research analysts forecast that Synergy Pharmaceuticals will post ($1.03) EPS for the current fiscal year.
In other news, 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 transaction of $308,967.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Creative Planning raised its stake in Synergy Pharmaceuticals by 1.3% in the second quarter. Creative Planning now owns 117,436 shares of the biopharmaceutical company’s stock valued at $446,000 after buying an additional 1,450 shares during the last quarter. Legal & General Group Plc raised its stake in Synergy Pharmaceuticals by 60.0% in the second quarter. Legal & General Group Plc now owns 29,343 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 11,001 shares during the last quarter. Principal Financial Group Inc. raised its stake in Synergy Pharmaceuticals by 82.4% in the second quarter. Principal Financial Group Inc. now owns 31,927 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 14,422 shares during the last quarter. Bank of Montreal Can acquired a new stake in Synergy Pharmaceuticals during the second quarter valued at approximately $126,000. Finally, DekaBank Deutsche Girozentrale raised its stake in Synergy Pharmaceuticals by 59.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 101,000 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 37,500 shares during the last quarter. 56.67% of the stock is currently owned by institutional investors.
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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