Synergy Pharmaceuticals Inc (NASDAQ:SGYP) was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 54,425,438 shares, a decrease of 20.6% from the April 28th total of 68,557,572 shares. Currently, 24.4% of the company’s shares are sold short. Based on an average daily volume of 5,347,231 shares, the days-to-cover ratio is presently 10.2 days.

SGYP has been the subject of a number of research analyst reports. HC Wainwright set a $18.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, March 16th. BTIG Research reiterated a “buy” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Tuesday, March 21st. Zacks Investment Research cut Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 26th. Citigroup Inc cut Synergy Pharmaceuticals from a “neutral” rating to a “sell” rating in a report on Thursday, April 6th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a report on Saturday, January 28th. Three analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $11.50.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 3.69 on Friday. The firm’s market cap is $830.06 million. The firm has a 50-day moving average price of $4.10 and a 200-day moving average price of $5.21. Synergy Pharmaceuticals has a 52-week low of $3.35 and a 52-week high of $7.15.

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

Several large investors have recently modified their holdings of the company. Credit Suisse AG increased its stake in shares of Synergy Pharmaceuticals by 202.3% in the first quarter. Credit Suisse AG now owns 728,352 shares of the biopharmaceutical company’s stock valued at $3,395,000 after buying an additional 487,434 shares during the last quarter. Family Management Corp increased its stake in shares of Synergy Pharmaceuticals by 159.4% in the first quarter. Family Management Corp now owns 41,500 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 25,500 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Synergy Pharmaceuticals by 5.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 134,855 shares of the biopharmaceutical company’s stock valued at $628,000 after buying an additional 7,195 shares during the last quarter. Highbridge Capital Management LLC increased its stake in shares of Synergy Pharmaceuticals by 19.8% in the first quarter. Highbridge Capital Management LLC now owns 62,106 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 10,267 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. increased its stake in shares of Synergy Pharmaceuticals by 42.7% in the first quarter. Kingdon Capital Management L.L.C. now owns 2,237,701 shares of the biopharmaceutical company’s stock valued at $10,428,000 after buying an additional 669,214 shares during the last quarter. 55.36% of the stock is owned by institutional investors.

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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.

12 Month Chart for NASDAQ:SGYP

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