Synergy Pharmaceuticals’ (SGYP) Market Perform Rating Reaffirmed at Oppenheimer

Synergy Pharmaceuticals (NASDAQ:SGYP)‘s stock had its “market perform” rating reiterated by investment analysts at Oppenheimer in a research note issued on Friday. They presently have a $10.00 price objective on the biopharmaceutical company’s stock. Oppenheimer’s target price indicates a potential upside of 309.84% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. BTIG Research reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. HC Wainwright set a $8.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 18th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Synergy Pharmaceuticals in a research note on Tuesday, November 21st. Canaccord Genuity set a $13.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, November 12th. Finally, Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating and set a $3.25 price objective on the stock in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $8.38.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at $2.44 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 12 month low of $1.68 and a 12 month high of $7.15. The company has a market cap of $601.85, a price-to-earnings ratio of -2.10 and a beta of 1.22.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.06. The firm had revenue of $5.01 million during the quarter, compared to the consensus estimate of $4.53 million. During the same period in the prior year, the company posted ($0.22) earnings per share. sell-side analysts anticipate that Synergy Pharmaceuticals will post -1.04 earnings per share for the current year.

In related news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the business’s stock in a transaction 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 filing with the SEC, which is available at this hyperlink. 3.80% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al lifted its position in shares of Synergy Pharmaceuticals by 1.3% during the 4th quarter. Tudor Investment Corp Et Al now owns 18,376 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 232 shares during the period. Ellington Management Group LLC raised its holdings in 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 buying an additional 7,600 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in 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 buying an additional 4,404 shares during the last quarter. Aperio Group LLC raised 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Synergy Pharmaceuticals during the second quarter worth $101,000. Institutional investors own 60.42% of the company’s stock.

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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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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