Wall Street brokerages expect that Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) will report $11.72 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Synergy Pharmaceuticals’ earnings. The lowest sales estimate is $7.00 million and the highest is $18.78 million. The business is expected to report its next earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Synergy Pharmaceuticals will report full year sales of $11.72 million for the current year, with estimates ranging from $14.00 million to $27.73 million. For the next financial year, analysts forecast that the business will post sales of $113.98 million per share, with estimates ranging from $84.00 million to $172.51 million. Zacks’ sales averages are an average based on a survey of analysts that follow Synergy Pharmaceuticals.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.06. The firm had revenue of $5.01 million for the quarter, compared to analyst estimates of $4.53 million. During the same quarter last year, the firm earned ($0.22) earnings per share.

A number of research analysts have recently issued reports on the stock. HC Wainwright set a $8.00 price target on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $9.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, July 18th. CIBC lowered their target price on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, September 8th. Citigroup Inc. restated a “sell” rating and set a $2.50 target price (down from $3.20) on shares of Synergy Pharmaceuticals in a research report on Wednesday, September 13th. Finally, Canaccord Genuity set a $13.00 target price on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, July 31st. 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 presently has a consensus rating of “Hold” and a consensus price target of $8.39.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) traded down $0.28 during trading on Tuesday, hitting $2.44. 24,011,202 shares of the stock were exchanged, compared to its average volume of 5,717,827. Synergy Pharmaceuticals has a twelve month low of $2.42 and a twelve month high of $7.15. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13.

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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in shares of Synergy Pharmaceuticals by 7.9% in the first 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 in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Synergy Pharmaceuticals by 0.9% in the second 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 in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Synergy Pharmaceuticals by 13.9% in the second 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Synergy Pharmaceuticals by 11.2% in the second 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 in the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of Synergy Pharmaceuticals by 25.2% in the second 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 in the last quarter. 72.10% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Synergy Pharmaceuticals (NASDAQ:SGYP)

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