BTIG Research Reiterates Positive Rating for Synergy Pharmaceuticals Inc. (SGYP)
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)‘s stock had its “positive” rating reaffirmed by research analysts at BTIG Research in a note issued to investors on Monday.
A number of other analysts have also weighed in on SGYP. Canaccord Genuity reaffirmed a “buy” rating and issued a $13.00 price target on shares of Synergy Pharmaceuticals in a research note on Sunday, July 17th. Rodman & Renshaw reaffirmed a “buy” rating and issued a $15.00 price target on shares of Synergy Pharmaceuticals in a research note on Thursday, September 8th. HC Wainwright set a $15.00 price target on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, September 8th. Finally, Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Synergy Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $9.75.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.16 on Monday. The firm has a 50-day moving average of $5.27 and a 200 day moving average of $4.10. The stock’s market capitalization is $925.94 million. Synergy Pharmaceuticals has a 1-year low of $2.50 and a 1-year high of $7.15.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.03. On average, equities analysts anticipate that Synergy Pharmaceuticals will post ($1.03) earnings per share 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 that occurred on Wednesday, September 28th. The shares were sold at an average price of $5.69, for a total transaction of $308,967.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SGYP. Nationwide Fund Advisors raised its position in Synergy Pharmaceuticals by 86.6% in the second quarter. Nationwide Fund Advisors now owns 118,459 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 54,960 shares in the last quarter. Asymmetry Capital Management L.P. bought a new position in Synergy Pharmaceuticals during the second quarter valued at $1,133,000. DekaBank Deutsche Girozentrale raised its position 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 in the last quarter. State Treasurer State of Michigan bought a new position in Synergy Pharmaceuticals during the second quarter valued at $152,000. Finally, Societe Generale bought a new position in Synergy Pharmaceuticals during the second quarter valued at $4,729,000. Institutional investors and hedge funds own 56.54% 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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