Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) has been given a $13.00 target price by analysts at Canaccord Genuity in a report issued on Sunday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price suggests a potential upside of 424.19% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Rodman & Renshaw lowered their target price on shares of Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. decreased their price target on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, September 8th. Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating and set a $3.25 price target on the stock in a research note on Thursday. BidaskClub downgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, HC Wainwright set a $15.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.39.

Synergy Pharmaceuticals (SGYP) traded down $0.24 on Friday, hitting $2.48. 21,111,987 shares of the company’s stock were exchanged, compared to its average volume of 5,633,911. 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 -68.13, a current ratio of 4.26 and a quick ratio of 3.88.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million during the quarter, compared to analysts’ expectations of $4.53 million. During the same period last year, the firm posted ($0.22) EPS. equities research analysts anticipate that Synergy Pharmaceuticals will post -1.13 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in Synergy Pharmaceuticals by 1.8% during the 4th quarter. California State Teachers Retirement System now owns 185,372 shares of the biopharmaceutical company’s stock worth $1,051,000 after acquiring an additional 3,251 shares in the last quarter. Asymmetry Capital Management L.P. boosted its holdings in shares of Synergy Pharmaceuticals by 49.2% in the 4th quarter. Asymmetry Capital Management L.P. now owns 303,157 shares of the biopharmaceutical company’s stock valued at $1,719,000 after buying an additional 100,002 shares in the last quarter. Oxford Asset Management bought a new stake in shares of Synergy Pharmaceuticals in the 4th quarter valued at about $1,102,000. EAM Investors LLC bought a new stake in shares of Synergy Pharmaceuticals in the 4th quarter valued at about $3,672,000. Finally, Morgan Stanley boosted its holdings in shares of Synergy Pharmaceuticals by 6.8% in the 4th quarter. Morgan Stanley now owns 423,520 shares of the biopharmaceutical company’s stock valued at $2,401,000 after buying an additional 27,037 shares in the last quarter. Hedge funds and other institutional investors own 72.10% of the company’s stock.

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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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