Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research note issued to investors on Friday. They currently have a $11.00 target price on the biopharmaceutical company’s stock. BTIG Research’s price objective indicates a potential upside of 294.27% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. CIBC reduced their target price on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday. Cantor Fitzgerald reissued a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Friday. Oppenheimer Holdings Inc. dropped their price objective on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Friday. ValuEngine lowered shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Rodman & Renshaw dropped their price objective on shares of Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $9.43.

Shares of Synergy Pharmaceuticals (NASDAQ SGYP) traded down 7.31% during trading on Friday, hitting $2.79. 10,815,036 shares of the company’s stock were exchanged. Synergy Pharmaceuticals has a 12-month low of $2.71 and a 12-month high of $7.15. The company’s market cap is $627.62 million. The company has a 50-day moving average of $3.35 and a 200-day moving average of $4.18.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.08. The firm had revenue of $2.31 million for the quarter, compared to analyst estimates of $1.98 million. During the same period last year, the business earned ($0.23) EPS. On average, equities analysts expect that Synergy Pharmaceuticals will post ($1.09) earnings per share for the current fiscal year.

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In other news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $3.77, for a total transaction of $99,101.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of SGYP. Teachers Advisors LLC lifted its position in shares of Synergy Pharmaceuticals by 4.0% during the fourth quarter. Teachers Advisors LLC now owns 298,781 shares of the biopharmaceutical company’s stock worth $1,820,000 after purchasing an additional 11,521 shares in the last quarter. Nationwide Fund Advisors raised its holdings in Synergy Pharmaceuticals by 9.1% in the first quarter. Nationwide Fund Advisors now owns 301,829 shares of the biopharmaceutical company’s stock valued at $1,407,000 after acquiring an additional 25,113 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings 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 valued at $141,000 after acquiring an additional 6,500 shares in the last quarter. Russell Investments Group Ltd. raised its holdings 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 valued at $1,024,000 after acquiring an additional 23,278 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings 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 valued at $832,000 after acquiring an additional 23,350 shares in the last quarter. 71.48% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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