BTIG Research Reiterates Positive Rating for Synergy Pharmaceuticals Inc. (SGYP)
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)‘s stock had its “positive” rating restated by analysts at BTIG Research in a report released on Monday.
Several other brokerages have also issued reports on SGYP. Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Synergy Pharmaceuticals in a research note on Sunday, July 17th. Rodman & Renshaw reissued a “buy” rating and set a $15.00 price objective on shares of Synergy Pharmaceuticals in a research note on Thursday, September 8th. HC Wainwright set a $15.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, September 8th. Finally, Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Synergy Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $9.75.
Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.16 on Monday. Synergy Pharmaceuticals has a 52 week low of $2.50 and a 52 week high of $7.15. The firm’s market cap is $925.94 million. The stock’s 50 day moving average is $5.27 and its 200 day moving average is $4.10.
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Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.03. Equities research analysts expect that Synergy Pharmaceuticals will post ($1.03) EPS for the current year.
In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 3,473,713 shares of Synergy Pharmaceuticals stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $5.61, for a total value of $19,487,529.93. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.60% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in Synergy Pharmaceuticals by 60.0% in the second quarter. Legal & General Group Plc now owns 29,343 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 11,001 shares during the period. Principal Financial Group Inc. increased its stake in Synergy Pharmaceuticals by 82.4% in the second quarter. Principal Financial Group Inc. now owns 31,927 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 14,422 shares during the period. Bank of Montreal Can acquired a new stake in Synergy Pharmaceuticals during the second quarter worth about $126,000. State Treasurer State of Michigan acquired a new stake in Synergy Pharmaceuticals during the second quarter worth about $152,000. Finally, Cheyne Capital Management UK LLP acquired a new stake in Synergy Pharmaceuticals during the second quarter worth about $250,000. Institutional investors own 56.54% of the company’s stock.
Synergy Pharmaceuticals Company Profile
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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