Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) Director John P. Brancaccio sold 2,518 shares of Synergy Pharmaceuticals stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $5.76, for a total transaction of $14,503.68. Following the completion of the transaction, the director now directly owns 21,883 shares in the company, valued at approximately $126,046.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) traded up 1.44% during trading on Wednesday, reaching $5.63. 5,645,202 shares of the company were exchanged. The company’s market capitalization is $1.01 billion. The firm’s 50 day moving average price is $4.96 and its 200 day moving average price is $3.84. Synergy Pharmaceuticals Inc. has a one year low of $2.50 and a one year high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.03. Equities research analysts forecast that Synergy Pharmaceuticals Inc. will post ($1.03) earnings per share for the current fiscal year.

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SGYP has been the topic of a number of research reports. BTIG Research initiated coverage on shares of Synergy Pharmaceuticals in a research report on Thursday, August 25th. They issued a “buy” rating and a $11.00 price objective on the stock. HC Wainwright set a $15.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, September 8th. Rodman & Renshaw reissued a “buy” rating and issued a $15.00 price objective on shares of Synergy Pharmaceuticals in a research report on Tuesday, July 12th. Roth Capital reissued a “buy” rating and issued a $6.50 price objective on shares of Synergy Pharmaceuticals in a research report on Thursday, May 26th. Finally, Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $9.75.

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Synergy Pharmaceuticals by 27.6% in the first quarter. JPMorgan Chase & Co. now owns 1,304,086 shares of the biopharmaceutical company’s stock valued at $3,600,000 after buying an additional 281,991 shares during the period. Landscape Capital Management L.L.C. increased its stake in shares of Synergy Pharmaceuticals by 1,693.9% in the first quarter. Landscape Capital Management L.L.C. now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $2,760,000 after buying an additional 944,254 shares during the period. Geode Capital Management LLC increased its stake in shares of Synergy Pharmaceuticals by 8.3% in the first quarter. Geode Capital Management LLC now owns 719,734 shares of the biopharmaceutical company’s stock valued at $1,986,000 after buying an additional 55,327 shares during the period. Nantahala Capital Management LLC bought a new stake in shares of Synergy Pharmaceuticals during the first quarter valued at approximately $828,000. Finally, Creative Planning increased its stake in shares of Synergy Pharmaceuticals by 1.3% in the second quarter. Creative Planning now owns 117,436 shares of the biopharmaceutical company’s stock valued at $446,000 after buying an additional 1,450 shares during the period. 56.67% of the stock is owned by institutional investors.

About Synergy Pharmaceuticals

Synergy Pharmaceuticals Inc (Synergy) is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease.

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