Synergy Pharmaceuticals (NASDAQ:SGYP) has been assigned a $7.00 price target by HC Wainwright in a report issued on Monday, January 8th. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 243.14% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the company. Oppenheimer reissued a “market perform” rating and set a $10.00 price target on shares of Synergy Pharmaceuticals in a research report on Friday, January 5th. CIBC restated a “market perform” rating on shares of Synergy Pharmaceuticals in a research note on Friday, January 5th. Citigroup cut Synergy Pharmaceuticals to a “market perform” rating in a research note on Friday, January 5th. BidaskClub upgraded Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $10.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.38.
Synergy Pharmaceuticals (NASDAQ:SGYP) opened at $2.04 on Monday. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13. The firm has a market capitalization of $501.95, a price-to-earnings ratio of -1.76 and a beta of 1.22. Synergy Pharmaceuticals has a 1 year low of $1.68 and a 1 year high of $6.64.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.06. The business had revenue of $5.01 million during the quarter, compared to analysts’ expectations of $4.53 million. During the same period in the prior year, the firm earned ($0.22) EPS. sell-side analysts forecast that Synergy Pharmaceuticals will post -1.03 EPS for the current fiscal year.
In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were 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 SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its position in Synergy Pharmaceuticals by 13.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 980,554 shares of the biopharmaceutical company’s stock worth $4,364,000 after buying an additional 119,492 shares during the last quarter. Rhumbline Advisers grew its holdings in Synergy Pharmaceuticals by 15.8% during the 2nd quarter. Rhumbline Advisers now owns 255,918 shares of the biopharmaceutical company’s stock worth $1,139,000 after acquiring an additional 34,942 shares during the period. Legal & General Group Plc grew its holdings in Synergy Pharmaceuticals by 13.9% during the 2nd quarter. Legal & General Group Plc now owns 56,358 shares of the biopharmaceutical company’s stock worth $249,000 after acquiring an additional 6,882 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Synergy Pharmaceuticals by 637.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 28,776 shares of the biopharmaceutical company’s stock worth $128,000 after acquiring an additional 24,872 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Synergy Pharmaceuticals by 11.2% during the 2nd quarter. Principal Financial Group Inc. now owns 41,507 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 4,164 shares during the period. 60.64% of the stock is currently 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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