Hikari Power Ltd boosted its stake in shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 233.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 500,000 shares of the biopharmaceutical company’s stock after buying an additional 350,000 shares during the period. Hikari Power Ltd owned 0.22% of Synergy Pharmaceuticals worth $2,225,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Synergy Pharmaceuticals by 100.9% in the first quarter. State Street Corp now owns 12,626,115 shares of the biopharmaceutical company’s stock valued at $58,841,000 after buying an additional 6,342,446 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in Synergy Pharmaceuticals during the first quarter worth $11,650,000. Vanguard Group Inc. increased its stake in Synergy Pharmaceuticals by 18.8% in the first quarter. Vanguard Group Inc. now owns 15,785,763 shares of the biopharmaceutical company’s stock worth $73,561,000 after buying an additional 2,493,557 shares in the last quarter. Pictet Asset Management Ltd. purchased a new stake in Synergy Pharmaceuticals during the first quarter worth $8,484,000. Finally, Kingdon Capital Management L.L.C. increased its stake in Synergy Pharmaceuticals by 42.7% in the first quarter. Kingdon Capital Management L.L.C. now owns 2,237,701 shares of the biopharmaceutical company’s stock worth $10,428,000 after buying an additional 669,214 shares in the last quarter. 71.48% of the stock is owned by institutional investors and hedge funds.

Synergy Pharmaceuticals, Inc. (SGYP) opened at 2.98 on Friday. The firm’s market capitalization is $670.36 million. Synergy Pharmaceuticals, Inc. has a 1-year low of $2.85 and a 1-year high of $7.15. The company has a 50 day moving average price of $3.57 and a 200-day moving average price of $4.30.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by $0.08. The company had revenue of $2.31 million during the quarter, compared to analyst estimates of $1.98 million. During the same quarter last year, the firm posted ($0.23) EPS. On average, analysts forecast that Synergy Pharmaceuticals, Inc. will post ($1.09) EPS for the current fiscal year.

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A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $9.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 10th. HC Wainwright set a $15.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 10th. Rodman & Renshaw decreased their price target on Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Finally, Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.07.

In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $3.77, for a total transaction of $99,101.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is owned by company insiders.

Synergy Pharmaceuticals Company Profile

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.

Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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