Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Synergy Pharmaceuticals, Inc. is a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. Its lead drug candidate plecanatide is a guanylyl cyclase C receptor agonist, to treat GI disorders, primarily chronic constipation and constipation-predominant- irritable bowel syndrome. It is also engaged in developing receptor agonist for the treatment of gastrointestinal inflammatory diseases, such as ulcerative colitis. Synergy Pharmaceuticals, Inc. is headquartered in New York, New York. “

A number of other equities research analysts also recently commented on the company. Canaccord Genuity reiterated a “buy” rating and issued a $13.00 price objective on shares of Synergy Pharmaceuticals in a report on Monday, July 10th. Citigroup Inc. reiterated a “sell” rating and issued a $3.70 price objective on shares of Synergy Pharmaceuticals in a report on Wednesday, June 28th. BTIG Research reiterated a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Tuesday, June 27th. BidaskClub upgraded Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Rodman & Renshaw reiterated a “buy” rating and issued a $18.00 price objective on shares of Synergy Pharmaceuticals in a report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $10.67.

Synergy Pharmaceuticals (SGYP) opened at 4.35 on Tuesday. Synergy Pharmaceuticals has a 12-month low of $3.34 and a 12-month high of $7.15. The firm’s market capitalization is $978.53 million. The company’s 50-day moving average price is $4.05 and its 200-day moving average price is $4.99.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.07. The firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million. Equities analysts expect that Synergy Pharmaceuticals will post ($0.95) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Tudor Investment Corp Et Al boosted its position in shares of 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 period. Ellington Management Group LLC boosted its position in shares of Synergy Pharmaceuticals by 65.0% in the fourth quarter. Ellington Management Group LLC now owns 19,300 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 7,600 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Synergy Pharmaceuticals by 29.2% in the third quarter. Teacher Retirement System of Texas now owns 19,485 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 4,404 shares during the period. Aperio Group LLC boosted its position in shares of Synergy Pharmaceuticals by 48.0% in the third quarter. Aperio Group LLC now owns 22,346 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 7,249 shares during the period. Finally, 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 valued at $112,000 after buying an additional 1,758 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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