Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) has earned a consensus recommendation of “Buy” from the seven brokerages that are covering the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $10.75.

SGYP has been the subject of a number of analyst reports. Rodman & Renshaw reissued a “buy” rating and issued a $15.00 price target on shares of Synergy Pharmaceuticals in a report on Thursday, September 8th. BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, September 16th. Zacks Investment Research cut Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Finally, HC Wainwright set a $15.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 24th.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.40 on Monday. The company has a 50 day moving average price of $5.14 and a 200-day moving average price of $4.50. Synergy Pharmaceuticals has a 1-year low of $2.50 and a 1-year high of $6.58. The stock’s market capitalization is $971.75 million.

In other news, major shareholder Paulson & Co. Inc. sold 54,300 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $5.69, for a total transaction of $308,967.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its stake in shares of 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. Legal & General Group Plc boosted its stake in shares of Synergy Pharmaceuticals by 60.0% in the second quarter. Legal & General Group Plc now owns 29,343 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 11,001 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Synergy Pharmaceuticals by 82.4% in the second quarter. Principal Financial Group Inc. now owns 31,927 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 14,422 shares during the last quarter. Aperio Group LLC boosted its stake in shares of 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. Finally, Clinton Group Inc. bought a new stake in shares of Synergy Pharmaceuticals during the third quarter worth $125,000. Institutional investors and hedge funds own 58.36% of the company’s stock.

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About Synergy Pharmaceuticals

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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