Oppenheimer Holdings Brokers Cut Earnings Estimates for Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP)
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) – Stock analysts at Oppenheimer Holdings decreased their Q3 2017 earnings estimates for Synergy Pharmaceuticals in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst D. Archila now forecasts that the biopharmaceutical company will post earnings of ($0.25) per share for the quarter, down from their previous estimate of ($0.21). Oppenheimer Holdings has a “Buy” rating and a $9.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Synergy Pharmaceuticals’ Q4 2017 earnings at ($0.20) EPS, FY2017 earnings at ($1.07) EPS, FY2018 earnings at ($0.49) EPS, FY2019 earnings at ($0.28) EPS and FY2020 earnings at ($0.05) EPS.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.08. The business had revenue of $2.31 million during the quarter, compared to the consensus estimate of $1.98 million. During the same period in the previous year, the business earned ($0.23) EPS.
A number of other equities analysts have also recently issued reports on SGYP. Cantor Fitzgerald reissued a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Thursday. HC Wainwright set a $15.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday. Rodman & Renshaw decreased their price target on Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday. BidaskClub lowered Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, July 31st. Four analysts have rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.07.
Synergy Pharmaceuticals (NASDAQ SGYP) opened at 2.98 on Monday. The firm’s market cap is $670.36 million. The firm’s 50-day moving average price is $4.15 and its 200-day moving average price is $4.62. Synergy Pharmaceuticals has a 12 month low of $2.88 and a 12 month high of $7.15.
In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $3.77, for a total transaction of $99,101.99. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SGYP. Amalgamated Bank raised 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 last quarter. Advisor Group Inc. raised its position in shares of Synergy Pharmaceuticals by 25.2% in the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 5,150 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Synergy Pharmaceuticals during the second quarter worth approximately $122,000. Stephens Inc. AR raised its position in shares of Synergy Pharmaceuticals by 39.0% in the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 8,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Synergy Pharmaceuticals by 637.1% in the second quarter. BNP Paribas Arbitrage SA now owns 28,776 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 24,872 shares during the last quarter. Hedge funds and other institutional investors own 67.46% of the company’s stock.
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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