Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) has been given a $8.00 target price by investment analysts at HC Wainwright in a report released on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 138.81% from the company’s current price.

SGYP has been the subject of several other reports. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $9.00 price objective on shares of Synergy Pharmaceuticals in a report on Tuesday, July 18th. CIBC dropped their price objective on Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, September 8th. Zacks Investment Research raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Citigroup Inc. reissued a “sell” rating and set a $2.50 price objective (down from $3.20) on shares of Synergy Pharmaceuticals in a report on Wednesday, September 13th. Finally, Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.90.

Synergy Pharmaceuticals (NASDAQ SGYP) opened at 3.35 on Wednesday. The company’s market cap is $753.60 million. The stock’s 50 day moving average is $2.93 and its 200 day moving average is $3.78. Synergy Pharmaceuticals has a 52-week low of $2.56 and a 52-week high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.08). The business had revenue of $2.31 million during the quarter, compared to analysts’ expectations of $1.98 million. During the same period in the prior year, the company earned ($0.23) earnings per share. Equities research analysts forecast that Synergy Pharmaceuticals will post ($1.16) earnings per share 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 dated 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 the SEC website. Corporate insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Synergy Pharmaceuticals by 10.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,422,326 shares of the biopharmaceutical company’s stock valued at $77,530,000 after purchasing an additional 1,636,563 shares during the period. State Street Corp grew its position in shares of Synergy Pharmaceuticals by 2.4% in the 2nd quarter. State Street Corp now owns 12,933,104 shares of the biopharmaceutical company’s stock valued at $57,552,000 after purchasing an additional 306,989 shares during the period. Northern Trust Corp grew its position in shares of Synergy Pharmaceuticals by 15.3% in the 2nd quarter. Northern Trust Corp now owns 2,804,768 shares of the biopharmaceutical company’s stock valued at $12,481,000 after purchasing an additional 372,683 shares during the period. TimesSquare Capital Management LLC grew its position in shares of Synergy Pharmaceuticals by 2.7% in the 2nd quarter. TimesSquare Capital Management LLC now owns 2,568,500 shares of the biopharmaceutical company’s stock valued at $11,430,000 after purchasing an additional 68,500 shares during the period. Finally, Kingdon Capital Management L.L.C. grew its position in shares of Synergy Pharmaceuticals by 42.7% in the 1st quarter. Kingdon Capital Management L.L.C. now owns 2,237,701 shares of the biopharmaceutical company’s stock valued at $10,428,000 after purchasing an additional 669,214 shares during the period. Institutional investors and hedge funds own 71.47% 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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