Pictet Asset Management Ltd. raised its holdings in Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 30.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,611,536 shares of the biopharmaceutical company’s stock after buying an additional 615,025 shares during the quarter. Pictet Asset Management Ltd. owned about 1.16% of Synergy Pharmaceuticals worth $7,574,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SGYP. Vanguard Group Inc. boosted 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 valued at $77,530,000 after purchasing an additional 1,636,563 shares in the last quarter. State Street Corp boosted 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 valued at $57,552,000 after purchasing an additional 306,989 shares in the last quarter. Northern Trust Corp boosted 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 valued at $12,481,000 after purchasing an additional 372,683 shares in the last quarter. TimesSquare Capital Management LLC boosted 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 valued at $11,430,000 after purchasing an additional 68,500 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Synergy Pharmaceuticals by 60.9% during the second quarter. JPMorgan Chase & Co. now owns 1,988,200 shares of the biopharmaceutical company’s stock valued at $8,848,000 after purchasing an additional 752,475 shares in the last quarter. Hedge funds and other institutional investors own 71.63% of the company’s stock.

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Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. Rodman & Renshaw dropped 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. Oppenheimer Holdings, Inc. dropped their target price on Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, September 8th. 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 downgraded Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.90.

Shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) opened at $2.93 on Thursday. The company has a quick ratio of 2.07, a current ratio of 2.33 and a debt-to-equity ratio of 0.39. Synergy Pharmaceuticals, Inc. has a 1 year low of $2.56 and a 1 year high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted 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 during the quarter, compared to the consensus estimate of $1.98 million. During the same period in the previous year, the business posted ($0.23) EPS. analysts predict that Synergy Pharmaceuticals, Inc. will post -1.13 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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