Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) had its price objective cut by Oppenheimer Holdings, Inc. from $9.00 to $6.00 in a report released on Friday morning. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on SGYP. Cantor Fitzgerald reaffirmed a buy rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Thursday, August 10th. HC Wainwright set a $15.00 target price on Synergy Pharmaceuticals and gave the stock a buy rating in a report on Thursday, August 10th. Rodman & Renshaw lowered their target price on Synergy Pharmaceuticals from $18.00 to $15.00 and set a buy rating on the stock in a report on Thursday, August 10th. Canaccord Genuity set a $13.00 target price on Synergy Pharmaceuticals and gave the stock a buy rating in a report on Monday, July 31st. Finally, BidaskClub lowered Synergy Pharmaceuticals from a sell rating to a strong sell rating in a report on Saturday, August 5th. Four analysts have rated the stock with a sell rating and nine have assigned a buy rating to the stock. Synergy Pharmaceuticals currently has an average rating of Hold and a consensus price target of $9.43.

Synergy Pharmaceuticals (NASDAQ SGYP) traded down 7.31% during midday trading on Friday, hitting $2.79. 10,815,036 shares of the company traded hands. The stock’s market cap is $627.62 million. The stock has a 50 day moving average of $3.35 and a 200 day moving average of $4.18. Synergy Pharmaceuticals has a 12-month low of $2.71 and a 12-month high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.08. The company had revenue of $2.31 million during the quarter, compared to analysts’ expectations of $1.98 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. Equities research analysts predict that Synergy Pharmaceuticals will post ($1.09) EPS for the current fiscal year.

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In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $3.77, for a total transaction of $99,101.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alambic Investment Management L.P. acquired a new stake in Synergy Pharmaceuticals during the 1st quarter worth about $612,000. Sei Investments Co. boosted its position in Synergy Pharmaceuticals by 18.2% during the 2nd quarter. Sei Investments Co. now owns 367,779 shares of the biopharmaceutical company’s stock worth $1,637,000 after acquiring an additional 56,595 shares during the period. EAM Investors LLC acquired a new stake in Synergy Pharmaceuticals during the 1st quarter worth about $2,797,000. UBS Asset Management Americas Inc. boosted its position in Synergy Pharmaceuticals by 47.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 78,636 shares of the biopharmaceutical company’s stock worth $366,000 after acquiring an additional 25,300 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Synergy Pharmaceuticals by 27.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 6,500 shares during the period. Hedge funds and other institutional investors own 71.48% of the company’s stock.

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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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