Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) in a research report released on Monday, July 31st. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
A number of other brokerages also recently commented on SGYP. BTIG Research reissued a buy rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a research note on Saturday, April 22nd. Zacks Investment Research downgraded shares of Synergy Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, July 18th. HC Wainwright reaffirmed a buy rating and set a $18.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, June 12th. ValuEngine downgraded Synergy Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, May 23rd. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Friday, June 9th. Four investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Synergy Pharmaceuticals presently has an average rating of Hold and a consensus target price of $10.07.
Synergy Pharmaceuticals (SGYP) opened at 2.98 on Monday. The company’s 50-day moving average price is $4.15 and its 200-day moving average price is $4.62. Synergy Pharmaceuticals has a 52-week low of $2.88 and a 52-week high of $7.15. The company’s market cap is $670.36 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.08. The company had revenue of $2.31 million for the quarter, compared to the consensus estimate of $1.98 million. During the same period last year, the business earned ($0.23) earnings per share. Equities research analysts expect that Synergy Pharmaceuticals will post ($1.05) EPS for the current fiscal year.
In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $3.77, for a total value of $99,101.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its position in Synergy Pharmaceuticals by 7.9% in the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,758 shares during the last quarter. Advisor Group Inc. increased its position in Synergy Pharmaceuticals by 25.2% in 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 last quarter. Captrust Financial Advisors purchased a new position in Synergy Pharmaceuticals during the second quarter valued at about $122,000. Stephens Inc. AR increased its position in Synergy Pharmaceuticals by 39.0% in 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 last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Synergy Pharmaceuticals by 637.1% in the second quarter. BNP Paribas Arbitrage SA now owns 28,776 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 24,872 shares during the last quarter. 67.46% of the stock is currently owned by hedge funds and other 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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