Synergy Pharmaceuticals Inc (NASDAQ:SGYP)’s share price gapped down prior to trading on Monday . The stock had previously closed at $2.51, but opened at $2.44. Synergy Pharmaceuticals shares last traded at $2.18, with a volume of 14851000 shares.
A number of research firms recently commented on SGYP. HC Wainwright set a $8.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Oppenheimer set a $6.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating and set a $3.25 target price for the company in a research note on Thursday, November 9th. Citigroup reissued a “sell” rating and set a $2.50 target price (down previously from $3.20) on shares of Synergy Pharmaceuticals in a research note on Wednesday, September 13th. Finally, Canaccord Genuity set a $13.00 target price on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, November 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.38.
The company has a market capitalization of $552.52, a P/E ratio of -1.93 and a beta of 1.22. The company has a debt-to-equity ratio of -68.13, a quick ratio of 3.88 and a current ratio of 4.26.
In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $2.82, for a total transaction of $24,675,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.80% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in SGYP. Dynamic Technology Lab Private Ltd bought a new position in shares of Synergy Pharmaceuticals during the 2nd quarter valued at $101,000. Advisor Group Inc. raised its holdings in shares of Synergy Pharmaceuticals by 25.2% during the 2nd quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 5,150 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Synergy Pharmaceuticals during the 2nd quarter valued at $122,000. Amalgamated Bank raised its holdings in shares of Synergy Pharmaceuticals by 16.9% during the 2nd quarter. Amalgamated Bank now owns 28,074 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 4,061 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Synergy Pharmaceuticals by 39.0% during the 2nd quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 60.42% 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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