Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued on Friday. They presently have a $11.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 298.55% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Oppenheimer Holdings, Inc. cut their target price on Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday. ValuEngine cut Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Synergy Pharmaceuticals in a research note on Monday, June 12th. Finally, Rodman & Renshaw reissued a “buy” rating and set a $18.00 target price on shares of Synergy Pharmaceuticals in a research note on Tuesday, May 23rd. Four analysts have rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Synergy Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $9.43.

Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 2.76 on Friday. The stock’s 50 day moving average price is $3.32 and its 200 day moving average price is $4.15. Synergy Pharmaceuticals has a 52-week low of $2.63 and a 52-week high of $7.15. The company’s market cap is $620.87 million.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) 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 analysts’ expectations of $1.98 million. During the same period in the previous year, the company posted ($0.23) earnings per share. Analysts expect that Synergy Pharmaceuticals will post ($1.12) earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of SGYP. Teachers Advisors LLC grew its stake in shares of Synergy Pharmaceuticals by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 298,781 shares of the biopharmaceutical company’s stock valued at $1,820,000 after buying an additional 11,521 shares in the last quarter. Nationwide Fund Advisors grew its stake in shares of Synergy Pharmaceuticals by 9.1% in the first quarter. Nationwide Fund Advisors now owns 301,829 shares of the biopharmaceutical company’s stock valued at $1,407,000 after buying an additional 25,113 shares in the last quarter. Janney Montgomery Scott LLC grew its stake 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 in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Synergy Pharmaceuticals by 11.9% in the first quarter. Russell Investments Group Ltd. now owns 219,625 shares of the biopharmaceutical company’s stock valued at $1,024,000 after buying an additional 23,278 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Synergy Pharmaceuticals by 15.0% in the first quarter. Wells Fargo & Company MN now owns 178,624 shares of the biopharmaceutical company’s stock valued at $832,000 after buying an additional 23,350 shares in the last quarter. 71.48% of the stock is owned by institutional investors and hedge funds.

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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