Synergy Pharmaceuticals (SGYP) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Synergy Pharmaceuticals (NASDAQ:SGYP) from a buy rating to a hold rating in a research report sent to investors on Saturday.

According to Zacks, “Synergy Pharmaceuticals, Inc. is a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. Its lead drug candidate plecanatide is a guanylyl cyclase C receptor agonist, to treat GI disorders, primarily chronic constipation and constipation-predominant- irritable bowel syndrome. It is also engaged in developing receptor agonist for the treatment of gastrointestinal inflammatory diseases, such as ulcerative colitis. Synergy Pharmaceuticals, Inc. is headquartered in New York, New York. “

A number of other equities research analysts also recently weighed in on the company. BidaskClub upgraded Synergy Pharmaceuticals from a strong sell rating to a sell rating in a research report on Wednesday, February 14th. HC Wainwright restated a buy rating and issued a $7.00 target price on shares of Synergy Pharmaceuticals in a research report on Thursday, February 1st. Cantor Fitzgerald restated a buy rating on shares of Synergy Pharmaceuticals in a research report on Thursday, February 1st. Oppenheimer restated a hold rating on shares of Synergy Pharmaceuticals in a research report on Monday, January 22nd. Finally, CIBC reiterated a market perform rating on shares of Synergy Pharmaceuticals in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Synergy Pharmaceuticals presently has a consensus rating of Hold and an average target price of $8.28.

Shares of Synergy Pharmaceuticals (NASDAQ SGYP) opened at $2.03 on Friday. The firm has a market capitalization of $500.72, a P/E ratio of -1.75 and a beta of 1.13. 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 52-week low of $1.68 and a 52-week high of $6.15.

Several large investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Synergy Pharmaceuticals by 0.9% during 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 acquiring an additional 3,686 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Synergy Pharmaceuticals by 13.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 32,018 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 3,900 shares during the last quarter. Advisor Group Inc. lifted its position 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 acquiring an additional 5,150 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Synergy Pharmaceuticals by 4.1% during the 2nd quarter. Wells Fargo & Company MN now owns 185,874 shares of the biopharmaceutical company’s stock valued at $827,000 after acquiring an additional 7,250 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Synergy Pharmaceuticals by 3.6% during the 2nd quarter. Nationwide Fund Advisors now owns 312,811 shares of the biopharmaceutical company’s stock valued at $1,392,000 after acquiring an additional 10,982 shares during the last quarter. Institutional investors own 58.09% of the company’s stock.

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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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