Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Friday, June 9th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Synergy Pharmaceuticals in a research note on Tuesday, March 28th. Rodman & Renshaw reaffirmed a “buy” rating and issued a $18.00 target price on shares of Synergy Pharmaceuticals in a research note on Wednesday, June 14th. Oppenheimer Holdings, Inc. set a $9.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Finally, Canaccord Genuity set a $13.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $11.44.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

Synergy Pharmaceuticals (NASDAQ:SGYP) traded up 3.27% on Friday, hitting $4.74. 7,843,742 shares of the company were exchanged. Synergy Pharmaceuticals has a 52-week low of $3.34 and a 52-week high of $7.15. The stock’s market capitalization is $1.07 billion. The stock’s 50-day moving average price is $3.94 and its 200-day moving average price is $5.03.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its earnings results 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 business had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million. On average, equities research analysts anticipate that Synergy Pharmaceuticals will post ($0.93) earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in SGYP. 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 worth $112,000 after buying an additional 232 shares in the last quarter. Amalgamated Bank boosted its position in shares of Synergy Pharmaceuticals by 7.9% in the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 1,758 shares during the period. Principal Financial Group Inc. boosted its position in shares of Synergy Pharmaceuticals by 12.9% in the first quarter. Principal Financial Group Inc. now owns 37,343 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 4,267 shares during the period. Legal & General Group Plc boosted its position in shares of Synergy Pharmaceuticals by 12.2% in the first quarter. Legal & General Group Plc now owns 49,476 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 5,367 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Synergy Pharmaceuticals by 27.4% in the first quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 67.39% 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.

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