Synergy Pharmaceuticals, Inc. (SGYP) Expected to Earn Q2 2018 Earnings of ($0.17) Per Share
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) – Equities researchers at Oppenheimer Holdings issued their Q2 2018 earnings per share (EPS) estimates for Synergy Pharmaceuticals in a research report issued to clients and investors on Monday. Oppenheimer Holdings analyst D. Archila anticipates that the biopharmaceutical company will post earnings of ($0.17) 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’ Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.15) EPS, FY2018 earnings at ($0.64) EPS, FY2019 earnings at ($0.46) EPS and FY2020 earnings at ($0.22) EPS.
Several other analysts also recently issued reports on SGYP. HC Wainwright set a $8.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reiterated a “buy” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Thursday, August 10th. Rodman & Renshaw decreased their price target on Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, BidaskClub downgraded Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $8.90.
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Shares of Synergy Pharmaceuticals (NASDAQ SGYP) traded up 0.31% during midday trading on Thursday, hitting $3.25. 1,302,501 shares of the stock were exchanged. Synergy Pharmaceuticals has a 12 month low of $2.56 and a 12 month high of $7.15. The stock’s market cap is $731.10 million. The firm has a 50 day moving average of $2.94 and a 200-day moving average of $3.78.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.08). The firm had revenue of $2.31 million for the quarter, compared to analysts’ expectations of $1.98 million. During the same quarter last year, the firm earned ($0.23) earnings per share.
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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Amalgamated Bank boosted its stake in Synergy Pharmaceuticals by 7.9% during the 1st quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 1,758 shares during the period. California State Teachers Retirement System boosted its stake in Synergy Pharmaceuticals by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 401,730 shares of the biopharmaceutical company’s stock valued at $1,788,000 after purchasing an additional 3,686 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Synergy Pharmaceuticals by 13.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 32,018 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 3,900 shares during the period. Principal Financial Group Inc. boosted its stake in Synergy Pharmaceuticals by 11.2% during the 2nd quarter. Principal Financial Group Inc. now owns 41,507 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 4,164 shares during the period. Finally, Advisor Group Inc. boosted its stake in Synergy Pharmaceuticals by 25.2% during the 2nd quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 5,150 shares during the period. Hedge funds and other institutional investors 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.
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