Analysts Set Synergy Pharmaceuticals Inc (SGYP) PT at $7.98

Shares of Synergy Pharmaceuticals Inc (NASDAQ:SGYP) have been assigned an average rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $7.98.

A number of equities research analysts have recently commented on SGYP shares. Oppenheimer lowered their price target on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, September 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. CIBC decreased their target price 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. BTIG Research reissued a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. Finally, Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) traded down $0.04 during midday trading on Monday, hitting $2.44. 4,078,000 shares of the stock were exchanged, compared to its average volume of 6,190,000. The stock has a market capitalization of $601.85, a P/E ratio of -2.10 and a beta of 1.22. Synergy Pharmaceuticals has a 1-year low of $1.68 and a 1-year high of $7.15. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results 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 firm had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $4.53 million. During the same quarter last year, the firm earned ($0.22) earnings per share. analysts expect that Synergy Pharmaceuticals will post -1.04 EPS for the current fiscal year.

In related news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the firm’s 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 legal filing with the SEC, which is available through this link. 3.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in 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 buying an additional 3,686 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in 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 buying an additional 3,900 shares in the last quarter. Amalgamated Bank lifted its position in 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 in the last quarter. Principal Financial Group Inc. lifted its position in 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 buying an additional 4,164 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in 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 in the last quarter. 60.42% of the stock is currently owned by institutional investors and hedge funds.

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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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