Brokerages Expect Synergy Pharmaceuticals, Inc. (SGYP) Will Announce Quarterly Sales of $8.20 Million

Equities analysts predict that Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) will post sales of $8.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Synergy Pharmaceuticals’ earnings. The highest sales estimate is $9.39 million and the lowest is $7.00 million. The firm is expected to issue its next earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Synergy Pharmaceuticals will report full-year sales of $8.20 million for the current financial year, with estimates ranging from $14.00 million to $17.54 million. For the next year, analysts forecast that the firm will report sales of $84.72 million per share, with estimates ranging from $84.00 million to $85.44 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Synergy Pharmaceuticals.

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

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Thursday, August 10th. Oppenheimer set a $9.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 10th. HC Wainwright set a $15.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 10th. Rodman & Renshaw decreased their price objective on Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Finally, BidaskClub cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Three 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. Synergy Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $7.93.

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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Several large investors have recently bought and sold shares of SGYP. Teachers Advisors LLC raised its position in Synergy Pharmaceuticals by 12.9% in the 1st quarter. Teachers Advisors LLC now owns 337,439 shares of the biopharmaceutical company’s stock worth $1,572,000 after purchasing an additional 38,658 shares during the last quarter. Legal & General Group Plc raised its position in Synergy Pharmaceuticals by 12.2% in the 1st quarter. Legal & General Group Plc now owns 49,476 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 5,367 shares during the last quarter. Renaissance Technologies LLC bought a new position in Synergy Pharmaceuticals in the 1st quarter worth approximately $263,000. Schwab Charles Investment Management Inc. raised its position in Synergy Pharmaceuticals by 10.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 861,062 shares of the biopharmaceutical company’s stock worth $4,013,000 after purchasing an additional 82,163 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Synergy Pharmaceuticals by 76.8% in the 1st quarter. Bank of America Corp DE now owns 104,853 shares of the biopharmaceutical company’s stock worth $489,000 after purchasing an additional 45,554 shares during the last quarter. Institutional investors own 60.53% of the company’s stock.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at $2.00 on Friday. 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 has a 1-year low of $1.68 and a 1-year high of $7.15.

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

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