BTIG Research reaffirmed their buy rating on shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) in a report published on Friday. The firm currently has a $11.00 price target on the biopharmaceutical company’s stock.

A number of other brokerages also recently commented on SGYP. BidaskClub raised shares of Synergy Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, June 23rd. Zacks Investment Research raised shares of Synergy Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, July 12th. Canaccord Genuity reissued a buy rating and issued a $13.00 price objective on shares of Synergy Pharmaceuticals in a research note on Monday, July 10th. Citigroup Inc. reissued a sell rating and issued a $3.70 price objective on shares of Synergy Pharmaceuticals in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $9.00 price objective on shares of Synergy Pharmaceuticals in a research note on Tuesday, July 18th. Four research analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $9.43.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 2.76 on Friday. The stock’s market cap is $620.87 million. The company has a 50 day moving average price of $3.32 and a 200 day moving average price of $4.15. Synergy Pharmaceuticals has a 1-year low of $2.63 and a 1-year high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.08. The company had revenue of $2.31 million for the quarter, compared to the consensus estimate of $1.98 million. During the same period last year, the business earned ($0.23) earnings per share. On average, equities analysts anticipate that Synergy Pharmaceuticals will post ($1.12) EPS for the current year.

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In other news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the company’s stock in a transaction on 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 filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Synergy Pharmaceuticals by 10.4% during the second quarter. Vanguard Group Inc. now owns 17,422,326 shares of the biopharmaceutical company’s stock worth $77,530,000 after purchasing an additional 1,636,563 shares in the last quarter. State Street Corp increased its position in shares of Synergy Pharmaceuticals by 2.4% during the second quarter. State Street Corp now owns 12,933,104 shares of the biopharmaceutical company’s stock worth $57,552,000 after purchasing an additional 306,989 shares in the last quarter. Northern Trust Corp increased its position in shares of Synergy Pharmaceuticals by 15.3% during the second quarter. Northern Trust Corp now owns 2,804,768 shares of the biopharmaceutical company’s stock worth $12,481,000 after purchasing an additional 372,683 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of Synergy Pharmaceuticals by 2.7% during the second quarter. TimesSquare Capital Management LLC now owns 2,568,500 shares of the biopharmaceutical company’s stock worth $11,430,000 after purchasing an additional 68,500 shares in the last quarter. Finally, Kingdon Capital Management L.L.C. increased its position in shares of Synergy Pharmaceuticals by 42.7% during 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 purchasing an additional 669,214 shares in the last quarter. 71.48% of the stock is currently 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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