Synergy Pharmaceuticals Inc (SGYP) Short Interest Update

Synergy Pharmaceuticals Inc (NASDAQ:SGYP) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 50,907,833 shares, a decrease of 15.7% from the October 15th total of 60,353,927 shares. Approximately 20.6% of the company’s stock are short sold. Based on an average daily volume of 9,827,463 shares, the short-interest ratio is currently 5.2 days.

NASDAQ:SGYP opened at $0.36 on Friday. Synergy Pharmaceuticals has a 52 week low of $0.35 and a 52 week high of $3.10. The company has a market cap of $110.31 million, a price-to-earnings ratio of -0.35 and a beta of 2.38.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $11.11 million during the quarter, compared to the consensus estimate of $15.65 million. On average, sell-side analysts expect that Synergy Pharmaceuticals will post -0.54 earnings per share for the current year.

SGYP has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Synergy Pharmaceuticals in a report on Tuesday, August 7th. Zacks Investment Research raised Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a report on Tuesday, August 14th. BidaskClub downgraded Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. Canaccord Genuity downgraded Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Finally, BTIG Research downgraded Synergy Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Synergy Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $8.17.

A number of large investors have recently added to or reduced their stakes in SGYP. Millennium Management LLC lifted its holdings in Synergy Pharmaceuticals by 2,579.3% during the 1st quarter. Millennium Management LLC now owns 504,383 shares of the biopharmaceutical company’s stock worth $923,000 after buying an additional 485,558 shares during the last quarter. Hikari Power Ltd lifted its holdings in Synergy Pharmaceuticals by 15.0% during the 2nd quarter. Hikari Power Ltd now owns 2,300,000 shares of the biopharmaceutical company’s stock worth $4,002,000 after buying an additional 300,000 shares during the last quarter. Mackay Shields LLC lifted its holdings in Synergy Pharmaceuticals by 25.9% during the 2nd quarter. Mackay Shields LLC now owns 202,600 shares of the biopharmaceutical company’s stock worth $352,000 after buying an additional 41,641 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Synergy Pharmaceuticals by 7.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,312,030 shares of the biopharmaceutical company’s stock worth $2,283,000 after buying an additional 88,386 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Synergy Pharmaceuticals by 2.2% during the 2nd quarter. BlackRock Inc. now owns 21,732,054 shares of the biopharmaceutical company’s stock worth $37,815,000 after buying an additional 464,195 shares during the last quarter. 39.30% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: “Synergy Pharmaceuticals Inc (SGYP) Short Interest Update” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/11/10/synergy-pharmaceuticals-inc-sgyp-short-interest-update.html.

About Synergy Pharmaceuticals

Synergy Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat gastrointestinal diseases and disorders. Its lead product is plecanatide, a novel uroguanylin based gastrointestinal platform that is traded under the TRULANCE name for the treatment of chronic idiopathic constipation and irritable bowel syndrome.

See Also: How does a reverse stock split work?

Receive News & Ratings for Synergy Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synergy Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply