Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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 research analysts have also recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. cut their price objective on Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, September 8th. ValuEngine cut Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. BTIG Research reiterated a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. Finally, HC Wainwright set a $8.00 price objective on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, October 18th. 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 company. Synergy Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $8.90.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at $2.72 on Thursday. Synergy Pharmaceuticals has a 52 week low of $2.56 and a 52 week high of $7.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.07 and a current ratio of 2.33.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $4.53 million. During the same quarter last year, the company earned ($0.22) EPS. sell-side analysts anticipate that Synergy Pharmaceuticals will post -1.13 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of SGYP. UBS Asset Management Americas Inc. boosted its stake in shares of Synergy Pharmaceuticals by 47.4% during the first quarter. UBS Asset Management Americas Inc. now owns 78,636 shares of the biopharmaceutical company’s stock valued at $366,000 after acquiring an additional 25,300 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Synergy Pharmaceuticals by 10.7% during the first quarter. Ameriprise Financial Inc. now owns 260,094 shares of the biopharmaceutical company’s stock valued at $1,212,000 after acquiring an additional 25,134 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Synergy Pharmaceuticals by 151.4% during the first quarter. Parametric Portfolio Associates LLC now owns 249,276 shares of the biopharmaceutical company’s stock valued at $1,162,000 after acquiring an additional 150,130 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Synergy Pharmaceuticals by 12.9% during the first quarter. Principal Financial Group Inc. now owns 37,343 shares of the biopharmaceutical company’s stock valued at $174,000 after acquiring an additional 4,267 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Synergy Pharmaceuticals by 12.9% during the first quarter. Teachers Advisors LLC now owns 337,439 shares of the biopharmaceutical company’s stock valued at $1,572,000 after acquiring an additional 38,658 shares during the last quarter. 71.63% 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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