Synergy Pharmaceuticals (SGYP) Shares Up -0.5%

Synergy Pharmaceuticals Inc (NASDAQ:SGYP)’s share price shot up 0.5% during trading on Wednesday . The company traded as high as $2.02 and last traded at $2.01. 2,123,325 shares were traded during mid-day trading, a decline of 73% from the average session volume of 7,834,897 shares. The stock had previously closed at $2.02.

A number of brokerages recently commented on SGYP. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Tuesday. BidaskClub cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Synergy Pharmaceuticals in a research report on Thursday, February 1st. Cantor Fitzgerald reiterated a “buy” rating on shares of Synergy Pharmaceuticals in a research report on Thursday, February 1st. Finally, Oppenheimer reiterated a “hold” rating on shares of Synergy Pharmaceuticals in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Synergy Pharmaceuticals has an average rating of “Hold” and a consensus target price of $8.28.

The firm has a market capitalization of $498.25, a PE ratio of -1.64 and a beta of 1,027.08. 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 released its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.06. The firm had revenue of $5.01 million during the quarter, compared to analysts’ expectations of $4.53 million. During the same quarter in the previous year, the firm posted ($0.22) EPS. equities research analysts forecast that Synergy Pharmaceuticals Inc will post -1.03 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in SGYP. Schwab Charles Investment Management Inc. increased its position in shares of Synergy Pharmaceuticals by 13.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 980,554 shares of the biopharmaceutical company’s stock valued at $4,364,000 after acquiring an additional 119,492 shares during the period. Principal Financial Group Inc. increased its position in shares of Synergy Pharmaceuticals by 11.2% in the second quarter. Principal Financial Group Inc. now owns 41,507 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 4,164 shares during the period. Wells Fargo & Company MN increased its position in shares of Synergy Pharmaceuticals by 4.1% in the second quarter. Wells Fargo & Company MN now owns 185,874 shares of the biopharmaceutical company’s stock valued at $827,000 after acquiring an additional 7,250 shares during the period. Alliancebernstein L.P. increased its position in shares of Synergy Pharmaceuticals by 25.9% in the second quarter. Alliancebernstein L.P. now owns 339,330 shares of the biopharmaceutical company’s stock valued at $1,510,000 after acquiring an additional 69,800 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Synergy Pharmaceuticals by 20.0% in the second quarter. Teachers Advisors LLC now owns 405,038 shares of the biopharmaceutical company’s stock valued at $1,802,000 after acquiring an additional 67,599 shares during the period. Hedge funds and other institutional investors own 60.67% 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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