Synergy Pharmaceuticals (NASDAQ:SGYP) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.85, but opened at $1.87. Synergy Pharmaceuticals shares last traded at $1.87, with a volume of 3228532 shares changing hands.
A number of research analysts have recently issued reports on SGYP shares. Cantor Fitzgerald reiterated a “buy” rating and set a $10.00 price objective on shares of Synergy Pharmaceuticals in a report on Thursday, January 25th. BidaskClub cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 6th. Oppenheimer cut shares of Synergy Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a report on Wednesday, February 28th. Finally, HC Wainwright set a $7.00 price target on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Synergy Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $8.08.
The firm has a market capitalization of $461.26, a price-to-earnings ratio of -1.85 and a beta of 1.17. The company has a debt-to-equity ratio of -21.05, a quick ratio of 3.88 and a current ratio of 4.33.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.03. Synergy Pharmaceuticals had a negative net margin of 1,333.76% and a negative return on equity of 652.66%. The business had revenue of $9.40 million for the quarter, compared to analysts’ expectations of $7.12 million. The firm’s revenue for the quarter was up 840.0% on a year-over-year basis. analysts forecast that Synergy Pharmaceuticals will post -0.52 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new stake in Synergy Pharmaceuticals in the fourth quarter worth about $124,000. HBK Sorce Advisory LLC bought a new stake in Synergy Pharmaceuticals in the fourth quarter worth about $103,000. California State Teachers Retirement System raised its position in 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 worth $874,000 after acquiring an additional 26,859 shares during the period. Virtu Financial LLC raised its position in Synergy Pharmaceuticals by 500.3% in the fourth quarter. Virtu Financial LLC now owns 173,704 shares of the biopharmaceutical company’s stock worth $387,000 after acquiring an additional 144,768 shares during the period. Finally, BlackRock Inc. raised its position in Synergy Pharmaceuticals by 8.7% in the fourth quarter. BlackRock Inc. now owns 21,998,125 shares of the biopharmaceutical company’s stock worth $49,056,000 after acquiring an additional 1,761,725 shares during the period. 53.08% of the stock is currently owned by institutional investors and hedge funds.
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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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