Citigroup cut shares of Synergy Pharmaceuticals (NASDAQ:SGYP) to a market perform rating in a report published on Friday, January 5th, The Fly reports.
Other equities research analysts have also recently issued research reports about the stock. Oppenheimer dropped their price target on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an outperform rating on the stock in a research note on Friday, September 8th. Cantor Fitzgerald restated a buy rating and issued a $10.00 price objective on shares of Synergy Pharmaceuticals in a report on Tuesday, November 21st. CIBC decreased their price objective on Synergy Pharmaceuticals from $9.00 to $6.00 and set an outperform rating on the stock in a report on Friday, September 8th. Zacks Investment Research upgraded Synergy Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, September 13th. Finally, BTIG Research reiterated a buy rating and set a $7.00 price target on shares of Synergy Pharmaceuticals in a report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $8.38.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at $2.10 on Friday. The company has a market cap of $552.52, a P/E ratio of -1.79 and a beta of 1,040.57. Synergy Pharmaceuticals has a one year low of $1.68 and a one year high of $7.15. 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 released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) 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 period in the prior year, the business posted ($0.22) EPS. research analysts forecast that Synergy Pharmaceuticals will post -1.03 earnings per share for the current fiscal year.
In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of Synergy Pharmaceuticals stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $2.82, for a total value of $24,675,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Exane Derivatives grew its position in shares of Synergy Pharmaceuticals by 79.4% during the fourth quarter. Exane Derivatives now owns 107,979 shares of the biopharmaceutical company’s stock worth $241,000 after buying an additional 47,774 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Synergy Pharmaceuticals by 11.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,051,408 shares of the biopharmaceutical company’s stock worth $2,345,000 after buying an additional 106,222 shares in the last quarter. Hikari Power Ltd grew its position in shares of Synergy Pharmaceuticals by 26.7% during the fourth quarter. Hikari Power Ltd now owns 1,900,000 shares of the biopharmaceutical company’s stock worth $4,237,000 after buying an additional 400,000 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in shares of Synergy Pharmaceuticals by 46.0% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 194,359 shares of the biopharmaceutical company’s stock worth $562,000 after buying an additional 61,200 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its position in shares of Synergy Pharmaceuticals by 42.0% during the third quarter. Alyeska Investment Group L.P. now owns 2,355,681 shares of the biopharmaceutical company’s stock worth $6,831,000 after buying an additional 696,911 shares in the last quarter. 60.64% of the stock is owned by institutional investors and hedge funds.
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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.
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