Synergy Pharmaceuticals Inc (NASDAQ:SGYP)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research note issued to investors on Friday. They currently have a $13.00 price objective on the biopharmaceutical company’s stock. Canaccord Genuity’s price target indicates a potential upside of 225.81% from the stock’s current price.

A number of other research firms also recently weighed in on SGYP. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $10.00 target price on shares of Synergy Pharmaceuticals in a report on Tuesday, January 31st. BTIG Research reiterated a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, January 20th. Rodman & Renshaw upped their target price on Synergy Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, January 20th. HC Wainwright set a $18.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, January 27th. Finally, Guggenheim reiterated an “outperform” rating and set a $10.00 target price on shares of Synergy Pharmaceuticals in a report on Thursday, March 2nd. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $11.50.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) traded down 1.75% on Friday, reaching $3.92. The company’s stock had a trading volume of 3,814,990 shares. The company’s market cap is $881.80 million. The company’s 50 day moving average price is $4.18 and its 200 day moving average price is $5.22. Synergy Pharmaceuticals has a 12-month low of $3.25 and a 12-month high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.07. The business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.10 million. Analysts forecast that Synergy Pharmaceuticals will post ($0.91) EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of SGYP. State Street Corp boosted its position in Synergy Pharmaceuticals by 11.6% in the fourth quarter. State Street Corp now owns 6,283,669 shares of the biopharmaceutical company’s stock valued at $38,270,000 after buying an additional 653,353 shares during the period. Fosun International Ltd acquired a new position in Synergy Pharmaceuticals during the third quarter valued at about $2,791,000. Tudor Investment Corp Et Al boosted its position in Synergy Pharmaceuticals by 1.3% in the fourth quarter. Tudor Investment Corp Et Al now owns 18,376 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 232 shares during the period. Russell Investments Group Ltd. acquired a new position in Synergy Pharmaceuticals during the fourth quarter valued at about $1,162,000. Finally, Bank of New York Mellon Corp boosted its position in Synergy Pharmaceuticals by 19.6% in the third quarter. Bank of New York Mellon Corp now owns 1,042,962 shares of the biopharmaceutical company’s stock valued at $5,746,000 after buying an additional 170,788 shares during the period. Institutional investors own 55.36% of the company’s stock.

About Synergy Pharmaceuticals

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.

12 Month Chart for NASDAQ:SGYP

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