Synergy Pharmaceuticals Inc (SGYP) Short Interest Update

Synergy Pharmaceuticals Inc (NASDAQ:SGYP) was the recipient of a significant growth in short interest during the month of December. As of December 29th, there was short interest totalling 75,531,974 shares, a growth of 1.2% from the December 15th total of 74,643,534 shares. Based on an average daily volume of 5,373,686 shares, the short-interest ratio is currently 14.1 days. Approximately 30.7% of the company’s stock are short sold.

Shares of Synergy Pharmaceuticals (NASDAQ SGYP) opened at $2.42 on Friday. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13. The firm has a market capitalization of $596.92, a P/E ratio of -2.09 and a beta of 1.22. Synergy Pharmaceuticals has a 1 year low of $1.68 and a 1 year high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, topping 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 quarter in the previous year, the company posted ($0.22) earnings per share. research analysts predict that Synergy Pharmaceuticals will post -1.04 earnings per share for the current fiscal year.

In related news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $2.82, for a total value of $24,675,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of Synergy Pharmaceuticals by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 401,730 shares of the biopharmaceutical company’s stock worth $1,788,000 after purchasing an additional 3,686 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Synergy Pharmaceuticals by 13.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 32,018 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 3,900 shares during the period. Amalgamated Bank raised its position in shares of 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 period. Principal Financial Group Inc. raised its position in shares of Synergy Pharmaceuticals by 11.2% during the 2nd quarter. Principal Financial Group Inc. now owns 41,507 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 4,164 shares during the period. Finally, Advisor Group Inc. raised its position 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 worth $114,000 after purchasing an additional 5,150 shares during the period. Institutional investors and hedge funds own 60.42% of the company’s stock.

Several analysts have issued reports on SGYP shares. HC Wainwright set a $8.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 18th. Oppenheimer set a $6.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, October 10th. Cantor Fitzgerald restated a “buy” rating and set a $10.00 price objective on shares of Synergy Pharmaceuticals in a research note on Tuesday, November 21st. BTIG Research restated a “buy” rating and set a $7.00 price objective on shares of Synergy Pharmaceuticals in a research note on Tuesday, November 14th. Finally, Canaccord Genuity set a $13.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, November 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.38.

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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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