Brokerages expect Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) to announce earnings of ($0.22) per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Synergy Pharmaceuticals’ earnings. The highest EPS estimate is ($0.21) and the lowest is ($0.23). Synergy Pharmaceuticals reported earnings of ($0.31) per share in the same quarter last year, which would suggest a positive year over year growth rate of 29%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Synergy Pharmaceuticals will report full-year earnings of ($1.07) per share for the current fiscal year, with EPS estimates ranging from ($1.12) to ($1.03). For the next fiscal year, analysts forecast that the company will report earnings of ($0.59) per share, with EPS estimates ranging from ($0.62) to ($0.54). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Synergy Pharmaceuticals.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted 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 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 company earned ($0.22) earnings per share.
In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of Synergy Pharmaceuticals stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $2.82, for a total value of $24,675,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in SGYP. Principal Financial Group Inc. increased its holdings in shares of Synergy Pharmaceuticals by 12.9% in the 1st quarter. Principal Financial Group Inc. now owns 37,343 shares of the biopharmaceutical company’s stock worth $174,000 after purchasing an additional 4,267 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Synergy Pharmaceuticals by 12.9% during the first quarter. Teachers Advisors LLC now owns 337,439 shares of the biopharmaceutical company’s stock worth $1,572,000 after acquiring an additional 38,658 shares during the period. Legal & General Group Plc grew its holdings in Synergy Pharmaceuticals by 12.2% during the 1st quarter. Legal & General Group Plc now owns 49,476 shares of the biopharmaceutical company’s stock worth $231,000 after acquiring an additional 5,367 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Synergy Pharmaceuticals by 18.8% during the 1st quarter. Vanguard Group Inc. now owns 15,785,763 shares of the biopharmaceutical company’s stock worth $73,561,000 after buying an additional 2,493,557 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Synergy Pharmaceuticals by 12.8% in the first quarter. Geode Capital Management LLC now owns 1,670,188 shares of the biopharmaceutical company’s stock valued at $7,782,000 after acquiring an additional 189,235 shares during the last quarter. 60.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Synergy Pharmaceuticals (NASDAQ SGYP) opened at $2.08 on Friday. Synergy Pharmaceuticals has a 12 month low of $1.68 and a 12 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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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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