Zacks: Brokerages Expect Synergy Pharmaceuticals Inc (SGYP) Will Post Earnings of -$0.19 Per Share

Analysts expect Synergy Pharmaceuticals Inc (NASDAQ:SGYP) to report earnings of ($0.19) per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Synergy Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.19). Synergy Pharmaceuticals posted earnings per share of ($0.31) in the same quarter last year, which indicates a positive year over year growth rate of 38.7%. The company is scheduled to issue its next earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Synergy Pharmaceuticals will report full-year earnings of ($1.03) per share for the current fiscal year, with EPS estimates ranging from ($1.03) to ($1.02). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.54) per share, with EPS estimates ranging from ($0.62) to ($0.48). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Synergy Pharmaceuticals.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.06. The firm had revenue of $5.01 million for the quarter, compared to the consensus estimate of $4.53 million. During the same quarter last year, the company posted ($0.22) EPS.

Several equities analysts have recently weighed in on SGYP shares. HC Wainwright set a $8.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 18th. Oppenheimer set a $6.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, October 10th. Cantor Fitzgerald restated a “buy” rating and issued a $10.00 price objective on shares of Synergy Pharmaceuticals in a report on Tuesday, November 21st. BTIG Research restated a “buy” rating and issued a $7.00 price objective on shares of Synergy Pharmaceuticals in a report 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 report on Sunday, November 12th. 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.38.

In related news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were 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 can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

A number of large investors have recently modified their holdings of SGYP. Schwab Charles Investment Management Inc. lifted its stake in Synergy Pharmaceuticals by 13.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 980,554 shares of the biopharmaceutical company’s stock valued at $4,364,000 after purchasing an additional 119,492 shares during the last quarter. Rhumbline Advisers lifted its stake in Synergy Pharmaceuticals by 15.8% in the 2nd quarter. Rhumbline Advisers now owns 255,918 shares of the biopharmaceutical company’s stock valued at $1,139,000 after purchasing an additional 34,942 shares during the last quarter. Legal & General Group Plc lifted its stake in Synergy Pharmaceuticals by 13.9% in the 2nd quarter. Legal & General Group Plc now owns 56,358 shares of the biopharmaceutical company’s stock valued at $249,000 after purchasing an additional 6,882 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Synergy Pharmaceuticals by 637.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 28,776 shares of the biopharmaceutical company’s stock valued at $128,000 after purchasing an additional 24,872 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Synergy Pharmaceuticals by 11.2% in the 2nd quarter. Principal Financial Group Inc. now owns 41,507 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 4,164 shares during the last quarter. Institutional investors and hedge funds own 60.42% of the company’s stock.

Synergy Pharmaceuticals (SGYP) traded up $0.13 during mid-day trading on Friday, reaching $2.40. The company’s stock had a trading volume of 5,344,694 shares, compared to its average volume of 5,128,799. The company has a market cap of $591.98, a PE ratio of -2.07 and a beta of 1,040.57. The company has a debt-to-equity ratio of -68.13, a quick ratio of 3.88 and a current ratio of 4.26. Synergy Pharmaceuticals has a 52-week low of $1.68 and a 52-week 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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