Synergy Pharmaceuticals (NASDAQ:SGYP) has been given a $7.00 target price by HC Wainwright in a research note issued to investors on Monday, December 4th. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 262.69% from the stock’s previous close.
A number of other research firms have also issued reports on SGYP. Rodman & Renshaw lowered their target price on Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Oppenheimer set a $9.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 10th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Thursday, August 10th. CIBC decreased their price target on Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, September 8th. Finally, ValuEngine lowered Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $7.84.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) traded down $0.08 on Monday, hitting $1.93. The stock had a trading volume of 4,642,619 shares, compared to its average volume of 5,926,792. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13. Synergy Pharmaceuticals has a 52 week low of $1.68 and a 52 week high of $7.15.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued 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 business had revenue of $5.01 million for the quarter, compared to analyst estimates of $4.53 million. During the same period last year, the business posted ($0.22) earnings per share. sell-side analysts anticipate that Synergy Pharmaceuticals will post -1.04 EPS for the current 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 stock was sold at an average price of $2.82, for a total transaction of $24,675,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SGYP. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synergy Pharmaceuticals during the 2nd quarter valued at about $101,000. Advisor Group Inc. lifted its holdings in shares of Synergy Pharmaceuticals by 25.2% during the 2nd quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 5,150 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Synergy Pharmaceuticals in the 2nd quarter valued at approximately $122,000. Amalgamated Bank raised its stake in shares of Synergy Pharmaceuticals by 16.9% in the 2nd quarter. Amalgamated Bank now owns 28,074 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 4,061 shares in the last quarter. Finally, Stephens Inc. AR raised its stake in shares of Synergy Pharmaceuticals by 39.0% in the 2nd quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors 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.
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