Synergy Pharmaceuticals, Inc. (SGYP) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.06, Briefing.com reports. The company had revenue of $5.01 million for the quarter, compared to analyst estimates of $4.53 million. During the same quarter in the prior year, the business posted ($0.22) earnings per share.
Shares of Synergy Pharmaceuticals (SGYP) traded up $0.04 during mid-day trading on Thursday, reaching $2.97. 4,064,033 shares of the company were exchanged, compared to its average volume of 5,566,417. Synergy Pharmaceuticals has a fifty-two week low of $2.56 and a fifty-two week high of $7.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.07 and a current ratio of 2.33.
SGYP has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. BTIG Research reiterated a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. Zacks Investment Research cut shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Citigroup Inc. reiterated a “sell” rating and issued a $2.50 target price (down from $3.20) on shares of Synergy Pharmaceuticals in a research note on Wednesday, September 13th. Finally, ValuEngine cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. 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 an average rating of “Hold” and a consensus target price of $8.90.
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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