Synergy Pharmaceuticals, Inc. (SGYP) Receives Average Recommendation of “Hold” from Brokerages
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) has been given a consensus rating of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $7.84.
A number of research firms have commented on SGYP. Cantor Fitzgerald restated a “buy” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a research note on Thursday, August 10th. Oppenheimer set a $9.00 target price on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 10th. HC Wainwright set a $15.00 target price on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 10th. Rodman & Renshaw reduced their target price 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, BTIG Research reaffirmed a “buy” rating and issued a $7.00 target price on shares of Synergy Pharmaceuticals in a report on Tuesday, November 14th.
Synergy Pharmaceuticals (NASDAQ:SGYP) traded down $0.05 during trading on Thursday, reaching $1.84. The company’s stock had a trading volume of 5,143,881 shares, compared to its average volume of 5,925,004. Synergy Pharmaceuticals has a 12-month low of $1.68 and a 12-month high of $7.15. The company has a debt-to-equity ratio of -68.13, a quick ratio of 3.88 and a current ratio of 4.26.
In related news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the firm’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synergy Pharmaceuticals during the 2nd quarter valued at $101,000. Advisor Group Inc. boosted its holdings in shares of Synergy Pharmaceuticals by 25.2% during the 2nd quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 5,150 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Synergy Pharmaceuticals during the 2nd quarter valued at $122,000. Amalgamated Bank raised its position in Synergy Pharmaceuticals by 16.9% during the 2nd quarter. Amalgamated Bank now owns 28,074 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 4,061 shares during the last quarter. Finally, Stephens Inc. AR raised its position in Synergy Pharmaceuticals by 39.0% during the 2nd quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 8,000 shares during the last quarter. 60.52% of the stock is currently owned by institutional investors.
About Synergy Pharmaceuticals
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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