Synergy Pharmaceuticals, Inc. (SGYP) Receives Consensus Rating of “Hold” from Analysts
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) has earned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.13.
SGYP has been the subject of a number of research analyst reports. HC Wainwright set a $18.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, March 16th. BTIG Research reiterated a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, March 21st. Citigroup Inc. cut shares of Synergy Pharmaceuticals from a “neutral” rating to a “sell” rating in a research report on Thursday, April 6th. Cantor Fitzgerald initiated coverage on shares of Synergy Pharmaceuticals in a research report on Thursday, June 1st. They issued an “overweight” rating and a $11.00 target price for the company. Finally, ValuEngine cut shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd.
A number of hedge funds and other institutional investors have recently made changes to their positions in SGYP. State Street Corp raised 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 last quarter. Alambic Investment Management L.P. acquired a new position in Synergy Pharmaceuticals during the first quarter valued at approximately $612,000. Tudor Investment Corp Et Al raised 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 last quarter. Russell Investments Group Ltd. acquired a new position in Synergy Pharmaceuticals during the fourth quarter valued at approximately $1,162,000. Finally, EAM Investors LLC acquired a new position in Synergy Pharmaceuticals during the first quarter valued at approximately $2,797,000. 67.39% of the stock is owned by institutional investors.
Synergy Pharmaceuticals (NASDAQ SGYP) traded down 0.45% during midday trading on Monday, hitting $4.44. 2,090,755 shares of the company were exchanged. The stock’s market capitalization is $998.77 million. Synergy Pharmaceuticals has a 1-year low of $3.34 and a 1-year high of $7.15. The stock has a 50 day moving average of $4.05 and a 200-day moving average of $4.99.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.07. The business had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.10 million. Equities analysts expect that Synergy Pharmaceuticals will post ($0.95) earnings per share for the current year.
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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.
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