Synergy Pharmaceuticals, Inc. (SGYP) Stock Rating Reaffirmed by Cantor Fitzgerald
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. They currently have a $10.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 426.32% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Rodman & Renshaw dropped their price target on shares of Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. HC Wainwright set a $15.00 price target on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $9.00 price target on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 10th. BTIG Research reiterated a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. Finally, Canaccord Genuity set a $13.00 price target on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.93.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at $1.90 on Tuesday. Synergy Pharmaceuticals has a 1-year low of $1.68 and a 1-year high of $7.15. 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) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million during the quarter, compared to analyst estimates of $4.53 million. During the same period in the previous year, the company earned ($0.22) EPS. analysts expect that Synergy Pharmaceuticals will post -1.06 EPS for the current fiscal year.
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In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $2.82, for a total transaction of $24,675,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in Synergy Pharmaceuticals during the 2nd quarter valued at about $101,000. Amalgamated Bank grew its stake in Synergy Pharmaceuticals by 7.9% during the 1st 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 in the last quarter. Advisor Group Inc. grew its stake in Synergy Pharmaceuticals by 25.2% during the 2nd 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 in the last quarter. Captrust Financial Advisors purchased a new position in Synergy Pharmaceuticals during the 2nd quarter valued at about $122,000. Finally, Stephens Inc. AR grew its stake in Synergy Pharmaceuticals by 39.0% during the 2nd quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 8,000 shares in the last quarter. 66.03% of the stock is currently owned by institutional investors.
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.
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