Synergy Pharmaceuticals Inc. (SGYP) Stock Rating Reaffirmed by Rodman & Renshaw
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reissued by equities researchers at Rodman & Renshaw in a report issued on Friday. They presently have a $15.00 target price on the biopharmaceutical company’s stock. Rodman & Renshaw’s price objective indicates a potential upside of 163.62% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Canaccord Genuity reissued a “buy” rating and issued a $13.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, October 21st. BTIG Research reissued a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Tuesday, July 19th. Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Wednesday, November 9th. Finally, HC Wainwright set a $15.00 target price on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, September 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $10.00.
Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.69 on Friday. Synergy Pharmaceuticals has a 1-year low of $2.50 and a 1-year high of $6.58. The stock’s market capitalization is $1.02 billion. The firm’s 50 day moving average is $5.16 and its 200 day moving average is $4.38.
In other news, major shareholder Paulson & Co. Inc. sold 140,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $4.24, for a total transaction of $593,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Highbridge Capital Management LLC purchased a new position in Synergy Pharmaceuticals during the third quarter worth approximately $433,000. D. E. Shaw & Co. Inc. increased its position in Synergy Pharmaceuticals by 139.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 188,211 shares of the biopharmaceutical company’s stock worth $1,037,000 after buying an additional 109,736 shares in the last quarter. Clinton Group Inc. purchased a new position in Synergy Pharmaceuticals during the third quarter worth approximately $125,000. The Manufacturers Life Insurance Company purchased a new position in Synergy Pharmaceuticals during the third quarter worth approximately $685,000. Finally, Great Point Partners LLC purchased a new position in Synergy Pharmaceuticals during the third quarter worth approximately $35,386,000. Hedge funds and other institutional investors own 57.29% 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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