Synergy Pharmaceuticals Inc (SGYP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Synergy Pharmaceuticals Inc (NASDAQ:SGYP) have been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.40.

Several research firms have issued reports on SGYP. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Synergy Pharmaceuticals in a report on Thursday, February 1st. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Synergy Pharmaceuticals in a report on Thursday, February 1st. Citigroup downgraded shares of Synergy Pharmaceuticals to a “market perform” rating in a report on Friday, January 5th. CIBC reaffirmed a “market perform” rating on shares of Synergy Pharmaceuticals in a report on Friday, January 5th. Finally, Zacks Investment Research downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday.

Synergy Pharmaceuticals (NASDAQ:SGYP) traded down $0.11 on Tuesday, reaching $1.92. 4,396,832 shares of the company’s stock traded hands, compared to its average volume of 7,142,028. 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 stock has a market capitalization of $491.03, a P/E ratio of -1.66 and a beta of 1.13. Synergy Pharmaceuticals has a fifty-two week low of $1.68 and a fifty-two week high of $6.12.

Several hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new stake in shares of Synergy Pharmaceuticals in the fourth quarter valued at about $124,000. HBK Sorce Advisory LLC acquired a new stake in shares of Synergy Pharmaceuticals in the fourth quarter valued at about $103,000. California State Teachers Retirement System raised its position in shares of Synergy Pharmaceuticals by 7.4% in the fourth quarter. California State Teachers Retirement System now owns 392,004 shares of the biopharmaceutical company’s stock valued at $874,000 after buying an additional 26,859 shares during the last quarter. Virtu Financial LLC raised its position in shares of Synergy Pharmaceuticals by 500.3% in the fourth quarter. Virtu Financial LLC now owns 173,704 shares of the biopharmaceutical company’s stock valued at $387,000 after buying an additional 144,768 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Synergy Pharmaceuticals by 8.7% in the fourth quarter. BlackRock Inc. now owns 21,998,125 shares of the biopharmaceutical company’s stock valued at $49,056,000 after buying an additional 1,761,725 shares during the last quarter. Institutional investors and hedge funds own 58.09% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/20/synergy-pharmaceuticals-inc-sgyp-given-consensus-recommendation-of-hold-by-brokerages.html.

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)

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