Synergy Pharmaceuticals, Inc. Expected to Earn Q1 2018 Earnings of ($0.16) Per Share (SGYP)
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) – Analysts at Oppenheimer Holdings issued their Q1 2018 earnings per share estimates for Synergy Pharmaceuticals in a research report issued on Monday. Oppenheimer Holdings analyst D. Archila expects that the biopharmaceutical company will post earnings of ($0.16) per share for the quarter. Oppenheimer Holdings currently has a “Buy” rating and a $6.00 target price on the stock. Oppenheimer Holdings also issued estimates for Synergy Pharmaceuticals’ FY2021 earnings at $0.07 EPS.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.08). The company had revenue of $2.31 million for the quarter, compared to analysts’ expectations of $1.98 million. During the same quarter in the previous year, the company earned ($0.23) earnings per share.
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Several other research analysts have also weighed in on SGYP. Rodman & Renshaw restated a “buy” rating and set a $18.00 target price on shares of Synergy Pharmaceuticals in a research report on Wednesday, June 14th. BidaskClub upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. BTIG Research restated a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, June 27th. Citigroup Inc. restated a “sell” rating and set a $3.70 target price on shares of Synergy Pharmaceuticals in a research report on Wednesday, June 28th. Finally, Canaccord Genuity restated a “buy” rating and set a $13.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $8.90.
Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 3.35 on Wednesday. The stock’s market capitalization is $753.60 million. Synergy Pharmaceuticals has a 52 week low of $2.56 and a 52 week high of $7.15. The company has a 50-day moving average of $2.93 and a 200-day moving average of $3.78.
In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the company’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 SEC, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Synergy Pharmaceuticals during the second quarter valued at approximately $101,000. Amalgamated Bank lifted its stake 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 buying an additional 1,758 shares during the period. Advisor Group Inc. lifted its stake 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 buying an additional 5,150 shares during the period. Captrust Financial Advisors purchased a new position in shares of Synergy Pharmaceuticals during the second quarter valued at approximately $122,000. Finally, Stephens Inc. AR lifted its stake 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 buying an additional 8,000 shares during the period. 71.47% 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.
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