Synergy Pharmaceuticals (SGYP) Given a $7.00 Price Target at HC Wainwright

HC Wainwright set a $7.00 target price on Synergy Pharmaceuticals (NASDAQ:SGYP) in a research report released on Monday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on SGYP. Cantor Fitzgerald restated a buy rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Thursday, August 10th. Oppenheimer set a $9.00 target price on shares of Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, August 10th. Rodman & Renshaw dropped their target price on shares of Synergy Pharmaceuticals from $18.00 to $15.00 and set a buy rating for the company in a research report on Thursday, August 10th. ValuEngine lowered shares of Synergy Pharmaceuticals from a sell rating to a strong sell rating in a research report on Friday, September 1st. Finally, CIBC dropped their target price on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an outperform rating for the company in a research report on Friday, September 8th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $7.84.

Shares of Synergy Pharmaceuticals (SGYP) traded down $0.07 during midday trading on Monday, hitting $1.93. 4,149,000 shares of the stock were exchanged, compared to its average volume of 5,950,661. The company has a debt-to-equity ratio of -68.13, a current ratio of 4.26 and a quick ratio of 3.88. 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 data 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 during the quarter, compared to analysts’ expectations of $4.53 million. During the same period last year, the company earned ($0.22) earnings per share. research analysts predict that Synergy Pharmaceuticals will post -1.07 earnings per share for the current fiscal year.

In other Synergy Pharmaceuticals 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 transaction of $24,675,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in shares of Synergy Pharmaceuticals by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 401,730 shares of the biopharmaceutical company’s stock valued at $1,788,000 after buying an additional 3,686 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Synergy Pharmaceuticals by 13.9% in 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 in the last quarter. Amalgamated Bank boosted its stake in Synergy Pharmaceuticals by 16.9% in 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 in the last quarter. Principal Financial Group Inc. boosted 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 worth $185,000 after purchasing an additional 4,164 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in Synergy Pharmaceuticals by 25.2% in 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 in the last quarter. Institutional investors and hedge funds own 60.52% of the company’s stock.

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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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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