Synergy Pharmaceuticals Inc (NASDAQ:SGYP)‘s stock had its “buy” rating reiterated by analysts at Rodman & Renshaw in a research report issued on Tuesday. They presently have a $18.00 target price on the biopharmaceutical company’s stock. Rodman & Renshaw’s price target would suggest a potential upside of 417.24% from the stock’s current price.

A number of other analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Synergy Pharmaceuticals in a research note on Friday, May 19th. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price objective on shares of Synergy Pharmaceuticals in a research note on Friday, May 19th. Oppenheimer Holdings Inc. set a $9.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, May 10th. Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Finally, BTIG Research reiterated a “buy” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a research note on Saturday, April 22nd. Three analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

Synergy Pharmaceuticals (NASDAQ:SGYP) traded down 5.69% on Tuesday, reaching $3.48. 7,683,160 shares of the company’s stock traded hands. The firm’s market capitalization is $782.82 million. Synergy Pharmaceuticals has a 52 week low of $3.35 and a 52 week high of $7.15. The stock has a 50-day moving average of $4.08 and a 200 day moving average of $5.20.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.07. The firm had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.10 million. On average, equities analysts expect that Synergy Pharmaceuticals will post ($0.91) EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake 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 worth $5,746,000 after buying an additional 170,788 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Synergy Pharmaceuticals by 32.5% in the third quarter. UBS Asset Management Americas Inc. now owns 58,836 shares of the biopharmaceutical company’s stock worth $325,000 after buying an additional 14,436 shares during the last quarter. BlackRock Advisors LLC increased its stake in Synergy Pharmaceuticals by 60.5% in the third quarter. BlackRock Advisors LLC now owns 138,907 shares of the biopharmaceutical company’s stock worth $765,000 after buying an additional 52,362 shares during the last quarter. BlackRock Investment Management LLC increased its stake in Synergy Pharmaceuticals by 1.8% in the third quarter. BlackRock Investment Management LLC now owns 716,985 shares of the biopharmaceutical company’s stock worth $3,951,000 after buying an additional 12,490 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in Synergy Pharmaceuticals by 1.1% in the third quarter. BlackRock Fund Advisors now owns 8,925,527 shares of the biopharmaceutical company’s stock worth $49,180,000 after buying an additional 100,978 shares during the last quarter. 55.36% of the stock is owned by institutional investors and hedge funds.

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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