Shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) traded up 5.8% during trading on Friday . The stock traded as high as $2.11 and last traded at $2.00. 11,247,800 shares changed hands during mid-day trading, an increase of 90% from the average session volume of 5,929,285 shares. The stock had previously closed at $1.89.

Several analysts recently commented on the company. HC Wainwright set a $8.00 price target on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 18th. BTIG Research reaffirmed a “buy” rating and issued a $7.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, November 14th. CIBC decreased their price target on Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, September 8th. Citigroup Inc. reaffirmed a “sell” rating and issued a $2.50 price target (down previously from $3.20) on shares of Synergy Pharmaceuticals in a research note 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 investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.02.

The company has a quick ratio of 3.88, a current ratio of 4.26 and a debt-to-equity ratio of -68.13.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.06. The business had revenue of $5.01 million during the quarter, compared to analyst estimates of $4.53 million. During the same period in the prior year, the firm posted ($0.22) EPS. equities analysts anticipate that Synergy Pharmaceuticals, Inc. will post -1.06 EPS for the current fiscal year.

In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $2.82, for a total value of $24,675,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank lifted its stake in shares of Synergy Pharmaceuticals by 7.9% during the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 1,758 shares during the period. California State Teachers Retirement System lifted its stake in shares of Synergy Pharmaceuticals by 0.9% during the second quarter. California State Teachers Retirement System now owns 401,730 shares of the biopharmaceutical company’s stock valued at $1,788,000 after acquiring an additional 3,686 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Synergy Pharmaceuticals by 13.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 32,018 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 3,900 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Synergy Pharmaceuticals by 11.2% during the second quarter. Principal Financial Group Inc. now owns 41,507 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 4,164 shares during the period. Finally, Advisor Group Inc. lifted its stake in shares of Synergy Pharmaceuticals by 25.2% during the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 5,150 shares during the period. 72.10% of the stock is currently owned by institutional investors and hedge funds.

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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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