Oppenheimer Reaffirms Hold Rating for Synergy Pharmaceuticals (SGYP)

Synergy Pharmaceuticals (NASDAQ:SGYP)‘s stock had its “hold” rating reiterated by Oppenheimer in a report released on Monday.

SGYP has been the subject of a number of other reports. HC Wainwright set a $8.00 price target on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 18th. BTIG Research reissued a “buy” rating and set a $7.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, November 14th. BidaskClub raised Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd. CIBC reaffirmed a “market perform” rating on shares of Synergy Pharmaceuticals in a research note on Friday, January 5th. Finally, Citigroup lowered Synergy Pharmaceuticals to a “market perform” rating in a research note on Friday, January 5th. 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 stock currently has a consensus rating of “Hold” and a consensus target price of $8.38.

Shares of Synergy Pharmaceuticals (SGYP) traded up $0.13 during trading on Monday, reaching $2.40. The company had a trading volume of 5,414,000 shares, compared to its average volume of 6,720,823. Synergy Pharmaceuticals has a 52 week low of $1.68 and a 52 week high of $7.15. The company has a market capitalization of $651.18, a price-to-earnings ratio of -2.07 and a beta of 1.22. 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 (NASDAQ:SGYP) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted ($0.22) earnings per share. sell-side analysts predict that Synergy Pharmaceuticals will post -1.03 earnings per share for the current year.

In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the stock in a transaction that occurred on 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 SEC, which is available through this hyperlink. 3.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its holdings in Synergy Pharmaceuticals by 11.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,051,408 shares of the biopharmaceutical company’s stock worth $2,345,000 after purchasing an additional 106,222 shares during the period. Hikari Power Ltd increased its holdings in Synergy Pharmaceuticals by 26.7% during the 4th quarter. Hikari Power Ltd now owns 1,900,000 shares of the biopharmaceutical company’s stock worth $4,237,000 after purchasing an additional 400,000 shares during the period. Cornerstone Capital Management Holdings LLC. increased its holdings in Synergy Pharmaceuticals by 46.0% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 194,359 shares of the biopharmaceutical company’s stock worth $562,000 after purchasing an additional 61,200 shares during the period. Alyeska Investment Group L.P. increased its holdings in Synergy Pharmaceuticals by 42.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,355,681 shares of the biopharmaceutical company’s stock worth $6,831,000 after purchasing an additional 696,911 shares during the period. Finally, OxFORD Asset Management LLP increased its holdings in Synergy Pharmaceuticals by 42.5% during the 3rd quarter. OxFORD Asset Management LLP now owns 2,040,297 shares of the biopharmaceutical company’s stock worth $5,784,000 after purchasing an additional 608,402 shares during the period. Hedge funds and other institutional investors own 60.58% 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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