Synergy Pharmaceuticals Inc (SGYP) Short Interest Update

Synergy Pharmaceuticals Inc (NASDAQ:SGYP) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 76,502,450 shares, a decrease of 4.9% from the January 12th total of 80,417,036 shares. Based on an average daily trading volume, of 8,996,015 shares, the short-interest ratio is currently 8.5 days. Currently, 31.1% of the shares of the stock are short sold.

Several institutional investors and hedge funds have recently bought and sold shares of SGYP. Schwab Charles Investment Management Inc. boosted its stake in shares of 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 in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 in the last quarter. Wells Fargo & Company MN raised its holdings in Synergy Pharmaceuticals by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 185,874 shares of the biopharmaceutical company’s stock valued at $827,000 after buying an additional 7,250 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Synergy Pharmaceuticals by 25.9% in the 2nd quarter. Alliancebernstein L.P. now owns 339,330 shares of the biopharmaceutical company’s stock valued at $1,510,000 after buying an additional 69,800 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in Synergy Pharmaceuticals by 20.0% in the 2nd quarter. Teachers Advisors LLC now owns 405,038 shares of the biopharmaceutical company’s stock valued at $1,802,000 after buying an additional 67,599 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

A number of brokerages have issued reports on SGYP. HC Wainwright set a $8.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, October 18th. BTIG Research reiterated a “buy” rating and set a $7.00 price objective on shares of Synergy Pharmaceuticals in a research note on Tuesday, November 14th. Cantor Fitzgerald reiterated a “buy” rating on shares of Synergy Pharmaceuticals in a research note on Thursday, February 1st. BidaskClub upgraded shares of Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Synergy Pharmaceuticals currently has an average rating of “Hold” and an average price target of $8.28.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at $1.97 on Friday. Synergy Pharmaceuticals has a one year low of $1.68 and a one year high of $6.45. The company has a quick ratio of 3.88, a current ratio of 4.26 and a debt-to-equity ratio of -68.13. The firm has a market cap of $485.92, a P/E ratio of -1.70 and a beta of 1.13.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share 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 quarter in the previous year, the business posted ($0.22) earnings per share. sell-side analysts anticipate that Synergy Pharmaceuticals will post -1.03 earnings per share 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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