Hikari Power Ltd Boosts Position in Synergy Pharmaceuticals, Inc. (SGYP)

Hikari Power Ltd lifted its position in shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 200.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,500,000 shares of the biopharmaceutical company’s stock after acquiring an additional 1,000,000 shares during the period. Hikari Power Ltd owned about 0.67% of Synergy Pharmaceuticals worth $4,350,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Cheyne Capital Management UK LLP raised its position in shares of Synergy Pharmaceuticals by 1,060.7% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 1,625,000 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 1,485,000 shares in the last quarter. Advisor Group Inc. increased its position in Synergy Pharmaceuticals by 70.3% in the third quarter. Advisor Group Inc. now owns 43,650 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 18,025 shares during the period. Pictet Asset Management Ltd. increased its position in Synergy Pharmaceuticals by 30.8% in the third quarter. Pictet Asset Management Ltd. now owns 2,611,536 shares of the biopharmaceutical company’s stock worth $7,574,000 after buying an additional 615,025 shares during the period. Exane Derivatives increased its position in Synergy Pharmaceuticals by 704.6% in the third quarter. Exane Derivatives now owns 60,205 shares of the biopharmaceutical company’s stock worth $175,000 after buying an additional 52,722 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Synergy Pharmaceuticals in the second quarter worth $101,000. 72.10% of the stock is currently owned by institutional investors and hedge funds.

Synergy Pharmaceuticals, Inc. (NASDAQ SGYP) traded up $0.11 during trading hours on Friday, hitting $2.00. The stock had a trading volume of 11,247,800 shares, compared to its average volume of 5,929,285. Synergy Pharmaceuticals, Inc. has a 12 month low of $1.68 and a 12 month 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 announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The firm had revenue of $5.01 million for the quarter, compared to the consensus estimate of $4.53 million. During the same period in the prior year, the business earned ($0.22) EPS. sell-side analysts predict that Synergy Pharmaceuticals, Inc. will post -1.06 earnings per share for the current year.

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In related news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the stock in a transaction on Friday, November 10th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $9.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 10th. HC Wainwright set a $15.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 10th. BTIG Research reaffirmed a “buy” rating and issued a $7.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday. Finally, Rodman & Renshaw dropped their target price on Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $8.02.

Synergy Pharmaceuticals 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.

Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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