Synergy Pharmaceuticals, Inc. (SGYP) Receives Buy Rating from BTIG Research
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research report issued to clients and investors on Tuesday. They presently have a $7.00 price objective on the biopharmaceutical company’s stock. BTIG Research’s price objective would suggest a potential upside of 258.97% from the stock’s current price.
A number of other research firms have also commented on SGYP. Zacks Investment Research lowered Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $9.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, July 18th. Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub lowered 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 Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 10th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $8.02.
Synergy Pharmaceuticals (SGYP) traded down $0.08 during trading on Tuesday, hitting $1.95. The company had a trading volume of 21,687,200 shares, compared to its average volume of 5,816,721. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13. Synergy Pharmaceuticals has a one year low of $2.01 and a one year high of $7.15.
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In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $2.82, for a total transaction of $24,675,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Tudor Investment Corp Et Al raised its position in shares of Synergy Pharmaceuticals by 1.3% during the fourth quarter. Tudor Investment Corp Et Al now owns 18,376 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 232 shares during the period. Ellington Management Group LLC raised its position in shares of Synergy Pharmaceuticals by 65.0% during the fourth quarter. Ellington Management Group LLC now owns 19,300 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 7,600 shares during the period. Teacher Retirement System of Texas raised its position in shares of Synergy Pharmaceuticals by 29.2% during the third quarter. Teacher Retirement System of Texas now owns 19,485 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 4,404 shares during the period. Aperio Group LLC grew its holdings in Synergy Pharmaceuticals by 48.0% during the third quarter. Aperio Group LLC now owns 22,346 shares of the biopharmaceutical company’s stock worth $123,000 after buying an additional 7,249 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Synergy Pharmaceuticals during the second quarter worth $101,000. 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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