Synergy Pharmaceuticals, Inc. (SGYP) Expected to Post Quarterly Sales of $5.76 Million
Analysts expect that Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) will report $5.76 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Synergy Pharmaceuticals’ earnings, with the highest sales estimate coming in at $6.54 million and the lowest estimate coming in at $5.00 million. The company is scheduled to report its next earnings report on Wednesday, November 8th.
On average, analysts expect that Synergy Pharmaceuticals will report full-year sales of $5.76 million for the current financial year, with estimates ranging from $14.00 million to $27.73 million. For the next fiscal year, analysts forecast that the firm will report sales of $113.98 million per share, with estimates ranging from $84.00 million to $172.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Synergy Pharmaceuticals.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.08). The business 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 company earned ($0.23) earnings per share.
A number of equities analysts have weighed in on the stock. Rodman & Renshaw decreased their target price on shares of Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Oppenheimer Holdings, Inc. decreased 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 note on Friday, September 8th. Canaccord Genuity set a $13.00 target price on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Friday, June 9th. Finally, BidaskClub downgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.90.
In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SGYP. Dynamic Technology Lab Private Ltd bought a new stake in shares of Synergy Pharmaceuticals during the second quarter valued at approximately $101,000. Amalgamated Bank increased its position in shares of Synergy Pharmaceuticals by 7.9% during the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 1,758 shares in the last quarter. Advisor Group Inc. increased its position in shares of Synergy Pharmaceuticals by 25.2% during the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 5,150 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Synergy Pharmaceuticals during the second quarter valued at approximately $122,000. Finally, Stephens Inc. AR increased its position in shares of Synergy Pharmaceuticals by 39.0% during the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 8,000 shares in the last quarter. 71.47% of the stock is owned by institutional investors.
Shares of Synergy Pharmaceuticals (SGYP) opened at 3.44 on Friday. The firm’s 50-day moving average price is $2.89 and its 200-day moving average price is $3.82. The company’s market capitalization is $773.84 million. Synergy Pharmaceuticals has a one year low of $2.56 and a one year high of $7.15.
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.
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