HC Wainwright set a $7.00 price target on Synergy Pharmaceuticals (NASDAQ:SGYP) in a research note issued to investors on Monday. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other research analysts have also weighed in on SGYP. Cantor Fitzgerald restated a buy rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Thursday, August 10th. Oppenheimer set a $9.00 target price on shares of Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, August 10th. Rodman & Renshaw lowered their target price 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. ValuEngine lowered shares of Synergy Pharmaceuticals from a sell rating to a strong sell rating in a research report on Friday, September 1st. Finally, CIBC lowered their price target on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an outperform rating on the stock in a research report on Friday, September 8th. Three 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 has an average rating of Hold and a consensus price target of $7.84.

Synergy Pharmaceuticals (NASDAQ SGYP) opened at $1.89 on Monday. The company has a debt-to-equity ratio of -68.13, a current ratio of 4.26 and a quick ratio of 3.88. Synergy Pharmaceuticals has a 1 year low of $1.68 and a 1 year high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its earnings results 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 for the quarter, compared to analyst estimates of $4.53 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. analysts forecast that Synergy Pharmaceuticals will post -1.07 earnings per share for the current year.

In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were 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 can be accessed through this link. 3.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SGYP. Dynamic Technology Lab Private Ltd purchased a new position in shares of Synergy Pharmaceuticals during the second quarter valued at approximately $101,000. 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 buying an additional 5,150 shares during the period. Captrust Financial Advisors purchased a new position in shares of Synergy Pharmaceuticals during the second quarter valued at approximately $122,000. Amalgamated Bank lifted its stake in shares of Synergy Pharmaceuticals by 16.9% during the second quarter. Amalgamated Bank now owns 28,074 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 4,061 shares during the period. Finally, Stephens Inc. AR lifted its stake in shares of Synergy Pharmaceuticals by 39.0% during the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 8,000 shares during the period. 60.52% 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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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