Synergy Pharmaceuticals (SGYP) Releases Earnings Results, Misses Expectations By $0.01 EPS
Synergy Pharmaceuticals (NASDAQ:SGYP) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01), MarketWatch Earnings reports. The firm had revenue of $11.11 million for the quarter, compared to analyst estimates of $15.65 million.
Shares of SGYP traded down $0.09 during mid-day trading on Friday, hitting $0.36. The company had a trading volume of 9,599,730 shares, compared to its average volume of 7,622,059. Synergy Pharmaceuticals has a 1-year low of $0.35 and a 1-year high of $3.10. The stock has a market capitalization of $114.13 million, a PE ratio of -0.35 and a beta of 2.38.
A number of equities research analysts have recently commented on SGYP shares. BidaskClub downgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 1st. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Synergy Pharmaceuticals in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a report on Tuesday, August 14th. BTIG Research downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. Finally, Canaccord Genuity downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Synergy Pharmaceuticals has an average rating of “Hold” and an average target price of $8.17.
Synergy Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat gastrointestinal diseases and disorders. Its lead product is plecanatide, a novel uroguanylin based gastrointestinal platform that is traded under the TRULANCE name for the treatment of chronic idiopathic constipation and irritable bowel syndrome.
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