Synergy Pharmaceuticals, Inc. (SGYP) Expected to Post Quarterly Sales of $2.82 Million
Analysts expect that Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) will report $2.82 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Synergy Pharmaceuticals’ earnings. The lowest sales estimate is $2.63 million and the highest is $3.00 million. The firm is scheduled to issue its next earnings results on Monday, August 14th.
On average, analysts expect that Synergy Pharmaceuticals will report full-year sales of $2.82 million for the current fiscal year, with estimates ranging from $25.80 million to $38.57 million. For the next fiscal year, analysts expect that the firm will post sales of $161.89 million per share, with estimates ranging from $100.00 million to $202.08 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Synergy Pharmaceuticals.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.23) by $0.07. The firm had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.10 million.
A number of research analysts recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, March 21st. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Synergy Pharmaceuticals in a research report on Friday, May 19th. Rodman & Renshaw reaffirmed a “buy” rating and issued a $18.00 target price on shares of Synergy Pharmaceuticals in a report on Wednesday, March 29th. Zacks Investment Research cut shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Finally, Guggenheim reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Synergy Pharmaceuticals in a report on Thursday, March 2nd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Synergy Pharmaceuticals has an average rating of “Hold” and an average price target of $11.44.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGYP. Wells Fargo & Company MN raised its position in Synergy Pharmaceuticals by 15.0% in the first quarter. Wells Fargo & Company MN now owns 178,624 shares of the biopharmaceutical company’s stock worth $832,000 after buying an additional 23,350 shares during the period. Russell Investments Group Ltd. raised its position in Synergy Pharmaceuticals by 11.9% in the first quarter. Russell Investments Group Ltd. now owns 219,625 shares of the biopharmaceutical company’s stock worth $1,024,000 after buying an additional 23,278 shares during the period. Hikari Power Ltd purchased a new position in Synergy Pharmaceuticals during the first quarter worth about $699,000. Janney Montgomery Scott LLC raised its position in 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. Finally, Clear Harbor Asset Management LLC raised its position in Synergy Pharmaceuticals by 32.5% in the first quarter. Clear Harbor Asset Management LLC now owns 295,060 shares of the biopharmaceutical company’s stock worth $1,375,000 after buying an additional 72,300 shares during the period. Institutional investors own 67.39% of the company’s stock.
Synergy Pharmaceuticals (NASDAQ SGYP) traded up 0.114% on Wednesday, hitting $4.395. 1,206,813 shares of the company traded hands. The stock’s 50-day moving average is $3.94 and its 200 day moving average is $5.03. Synergy Pharmaceuticals has a 12 month low of $3.34 and a 12 month high of $7.15. The firm’s market capitalization is $988.65 million.
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.
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