Synergy Pharmaceuticals (SGYP) Given a $7.00 Price Target at HC Wainwright

Synergy Pharmaceuticals (NASDAQ:SGYP) has been assigned a $7.00 price target by analysts at HC Wainwright in a report issued on Monday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 250.00% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Rodman & Renshaw lowered their price objective 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. Oppenheimer lowered their price objective 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. Cantor Fitzgerald reaffirmed a “buy” rating and set a $10.00 price objective on shares of Synergy Pharmaceuticals in a research report on Tuesday, November 21st. CIBC lowered their price objective 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. 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. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $7.84.

Shares of Synergy Pharmaceuticals (SGYP) traded down $0.08 on Monday, reaching $2.00. 6,224,400 shares of the company were exchanged, compared to its average volume of 5,958,427. Synergy Pharmaceuticals has a 52-week low of $1.68 and a 52-week 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 announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $4.53 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. equities research analysts predict that Synergy Pharmaceuticals will post -1.07 EPS for the current year.

In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of Synergy Pharmaceuticals 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 Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of SGYP. Teachers Advisors LLC lifted its stake in shares of Synergy Pharmaceuticals by 12.9% in the first quarter. Teachers Advisors LLC now owns 337,439 shares of the biopharmaceutical company’s stock worth $1,572,000 after buying an additional 38,658 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Synergy Pharmaceuticals by 12.2% in the first quarter. Legal & General Group Plc now owns 49,476 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 5,367 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Synergy Pharmaceuticals in the first quarter worth $263,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Synergy Pharmaceuticals by 10.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 861,062 shares of the biopharmaceutical company’s stock worth $4,013,000 after buying an additional 82,163 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Synergy Pharmaceuticals by 76.8% in the first quarter. Bank of America Corp DE now owns 104,853 shares of the biopharmaceutical company’s stock worth $489,000 after buying an additional 45,554 shares during the last quarter. Institutional investors and hedge funds own 60.52% of the company’s stock.

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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.

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