Synergy Pharmaceuticals, Inc. (SGYP) Short Interest Update
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 76,152,425 shares, a drop of 4.8% from the November 15th total of 79,970,797 shares. Approximately 30.9% of the shares of the company are short sold. Based on an average daily trading volume, of 7,107,282 shares, the days-to-cover ratio is presently 10.7 days.
Several equities analysts have recently weighed in on SGYP shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. Oppenheimer cut their target price on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Friday, September 8th. ValuEngine lowered shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. BTIG Research reaffirmed a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. Finally, Canaccord Genuity set a $13.00 target price on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, November 12th. 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 stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.84.
In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $2.82, for a total transaction of $24,675,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.80% of the company’s stock.
Shares of Synergy Pharmaceuticals (SGYP) opened at $2.01 on Thursday. Synergy Pharmaceuticals has a one year low of $1.68 and a one year high of $7.15. 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 (NASDAQ:SGYP) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.06. The company had revenue of $5.01 million during the quarter, compared to analyst estimates of $4.53 million. During the same period in the prior year, the business posted ($0.22) EPS. analysts expect that Synergy Pharmaceuticals will post -1.04 EPS for the current year.
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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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