Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) has been assigned a $9.00 price objective by equities research analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Thursday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s target price indicates a potential upside of 154.96% from the company’s current price.

SGYP has been the subject of several other research reports. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Synergy Pharmaceuticals in a research note on Friday, May 19th. Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. BidaskClub upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Citigroup Inc. restated a “sell” rating and set a $3.70 price target on shares of Synergy Pharmaceuticals in a research note on Wednesday, June 28th. Finally, Canaccord Genuity restated a “buy” rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a research note on Monday, July 10th. Four equities research analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $10.67.

Synergy Pharmaceuticals (NASDAQ SGYP) opened at 3.53 on Thursday. Synergy Pharmaceuticals has a 52-week low of $3.34 and a 52-week high of $7.15. The stock has a 50 day moving average price of $4.24 and a 200 day moving average price of $4.65. The firm’s market cap is $794.07 million.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.08. The firm had revenue of $2.31 million for the quarter, compared to the consensus estimate of $1.98 million. During the same period in the prior year, the firm posted ($0.23) EPS. Equities analysts predict that Synergy Pharmaceuticals will post ($0.95) earnings per share for the current fiscal year.

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In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of Synergy Pharmaceuticals stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $3.77, for a total value of $99,101.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alambic Investment Management L.P. purchased a new position in shares of Synergy Pharmaceuticals during the first quarter valued at approximately $612,000. EAM Investors LLC purchased a new position in shares of Synergy Pharmaceuticals during the first quarter valued at approximately $2,797,000. Janney Montgomery Scott LLC increased its position in shares of Synergy Pharmaceuticals by 27.4% in the first quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 6,500 shares during the last quarter. Family Management Corp increased its position in shares of Synergy Pharmaceuticals by 159.4% in the first quarter. Family Management Corp now owns 41,500 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 25,500 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Synergy Pharmaceuticals by 151.4% in the first quarter. Parametric Portfolio Associates LLC now owns 249,276 shares of the biopharmaceutical company’s stock valued at $1,162,000 after buying an additional 150,130 shares during the last quarter. 67.46% of the stock is owned by hedge funds and other institutional investors.

About Synergy Pharmaceuticals

Synergy Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s product candidates include TRULANCE (plecanatide) and dolcanatide. The Company is engaged in the discovery, research and development efforts around analogs of uroguanylin for the treatment of GI diseases and disorders.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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