Synergy Pharmaceuticals Sees Significant Increase in Short Interest (SGYP)
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) were the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 16,195,779 shares, an increase of 17.1% from the June 13th total of 13,832,018 shares, ARN reports. Currently, 19.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,294,945 shares, the days-to-cover ratio is currently 12.5 days.
A number of analysts have recently weighed in on SGYP shares. Analysts at Aegis reiterated a “positive” rating on shares of Synergy Pharmaceuticals in a research note on Tuesday, July 8th. Analysts at Zacks upgraded shares of Synergy Pharmaceuticals from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 2nd. They now have a $4.60 price target on the stock.
Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 3.84 on Wednesday. Synergy Pharmaceuticals has a 52-week low of $3.39 and a 52-week high of $6.70. The stock has a 50-day moving average of $4.10 and a 200-day moving average of $4.85. The company’s market cap is $359.8 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings data on Tuesday, May 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.05. Analysts expect that Synergy Pharmaceuticals will post $-0.88 EPS for the current fiscal year.
Synergy Pharmaceuticals, Inc is a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal (NASDAQ:SGYP), disorders and diseases.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.