Shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) have received an average rating of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $9.60.

Several research firms recently weighed in on SGYP. Citigroup Inc. restated a “sell” rating and issued a $2.50 price objective (down from $3.20) on shares of Synergy Pharmaceuticals in a report on Wednesday, September 13th. Zacks Investment Research upgraded Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. BTIG Research restated a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. CIBC decreased their price objective on Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, September 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Friday, September 8th.

Synergy Pharmaceuticals (NASDAQ SGYP) traded down 1.89% during mid-day trading on Friday, hitting $2.59. 5,167,881 shares of the stock were exchanged. Synergy Pharmaceuticals has a 52-week low of $2.57 and a 52-week high of $7.15. The stock’s market cap is $582.63 million. The stock has a 50 day moving average of $3.07 and a 200-day moving average of $4.01.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The company had revenue of $2.31 million during the quarter, compared to analysts’ expectations of $1.98 million. During the same period in the prior year, the firm earned ($0.23) EPS. Equities analysts predict that Synergy Pharmaceuticals will post ($1.14) EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/09/23/synergy-pharmaceuticals-inc-sgyp-given-average-rating-of-hold-by-brokerages.html.

In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $3.77, for a total value of $99,101.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Synergy Pharmaceuticals during the second quarter worth about $101,000. California State Teachers Retirement System grew its stake in shares of Synergy Pharmaceuticals by 0.9% during the second quarter. California State Teachers Retirement System now owns 401,730 shares of the biopharmaceutical company’s stock worth $1,788,000 after acquiring an additional 3,686 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Synergy Pharmaceuticals by 13.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 32,018 shares of the biopharmaceutical company’s stock worth $142,000 after acquiring an additional 3,900 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Synergy Pharmaceuticals by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 174,647 shares of the biopharmaceutical company’s stock worth $778,000 after acquiring an additional 29,965 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Synergy Pharmaceuticals by 2.4% during the second quarter. State Street Corp now owns 12,933,104 shares of the biopharmaceutical company’s stock worth $57,552,000 after acquiring an additional 306,989 shares during the last quarter. Institutional investors and hedge funds own 71.47% of the company’s stock.

About Synergy Pharmaceuticals

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)

Receive News & Ratings for Synergy Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synergy Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.