Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Monday. They presently have a $13.00 price objective on the biopharmaceutical company’s stock. Canaccord Genuity’s target price points to a potential upside of 127.27% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SGYP. Rodman & Renshaw restated a “buy” rating and set a $15.00 target price on shares of Synergy Pharmaceuticals in a research report on Thursday, September 8th. BTIG Research restated a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Friday, September 16th. HC Wainwright set a $15.00 target price on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 24th. Finally, Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, October 27th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $10.00.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.72 on Monday. The stock’s market cap is $1.03 billion. Synergy Pharmaceuticals has a 52-week low of $2.50 and a 52-week high of $6.58. The company’s 50 day moving average is $5.16 and its 200-day moving average is $4.40.

In related news, major shareholder Paulson & Co. Inc. sold 140,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $4.24, for a total value of $593,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in Synergy Pharmaceuticals by 1.6% in the third quarter. Principal Financial Group Inc. now owns 32,427 shares of the biopharmaceutical company’s stock worth $179,000 after buying an additional 500 shares during the last quarter. Creative Planning increased 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 worth $446,000 after buying an additional 1,450 shares during the last quarter. California State Teachers Retirement System increased its stake in Synergy Pharmaceuticals by 0.9% in the third quarter. California State Teachers Retirement System now owns 383,944 shares of the biopharmaceutical company’s stock worth $2,116,000 after buying an additional 3,500 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Synergy Pharmaceuticals by 29.2% in the third quarter. Teacher Retirement System of Texas now owns 19,485 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 4,404 shares during the last quarter. Finally, Aperio Group LLC increased its stake in Synergy Pharmaceuticals by 48.0% in the third quarter. Aperio Group LLC now owns 22,346 shares of the biopharmaceutical company’s stock worth $123,000 after buying an additional 7,249 shares during the last quarter. 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.

5 Day Chart for NASDAQ:SGYP

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