Zacks Investment Research upgraded shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Synergy Pharmaceuticals, Inc. is a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. Its lead drug candidate plecanatide is a guanylyl cyclase C receptor agonist, to treat GI disorders, primarily chronic constipation and constipation-predominant- irritable bowel syndrome. It is also engaged in developing receptor agonist for the treatment of gastrointestinal inflammatory diseases, such as ulcerative colitis. Synergy Pharmaceuticals, Inc. is headquartered in New York, New York. “

Several other equities analysts also recently commented on the company. BTIG Research reiterated a buy rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. CIBC lowered their price target on Synergy Pharmaceuticals from $9.00 to $6.00 and set an outperform rating on the stock in a report on Friday, September 8th. Cantor Fitzgerald reiterated an overweight rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. Oppenheimer Holdings, Inc. lowered their price target on Synergy Pharmaceuticals from $9.00 to $6.00 and set an outperform rating on the stock in a report on Friday, September 8th. Finally, ValuEngine downgraded Synergy Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $9.32.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) traded up 3.05% on Wednesday, hitting $2.70. 5,833,591 shares of the stock traded hands. Synergy Pharmaceuticals has a 12-month low of $2.57 and a 12-month high of $7.15. The stock’s market cap is $607.38 million. The stock has a 50-day moving average price of $3.14 and a 200 day moving average price of $4.08.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The company had revenue of $2.31 million for the quarter, compared to analysts’ expectations of $1.98 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. On average, analysts anticipate that Synergy Pharmaceuticals will post ($1.14) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Synergy Pharmaceuticals, Inc. (SGYP) Raised to “Hold” at Zacks Investment Research” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright laws. The original version of this story can be read at https://www.thecerbatgem.com/2017/09/16/synergy-pharmaceuticals-inc-sgyp-raised-to-hold-at-zacks-investment-research.html.

In other news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $3.77, for a total value of $99,101.99. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synergy Pharmaceuticals in the second quarter worth $101,000. Amalgamated Bank grew its stake in shares of Synergy Pharmaceuticals by 7.9% in the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 1,758 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Synergy Pharmaceuticals by 25.2% in the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 5,150 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of Synergy Pharmaceuticals in the second quarter worth $122,000. Finally, Stephens Inc. AR grew its stake in shares of Synergy Pharmaceuticals by 39.0% in the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 71.48% of the company’s stock.

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.

Get a free copy of the Zacks research report on Synergy Pharmaceuticals (SGYP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

Receive News & Stock Ratings for Synergy Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synergy Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.