Wall Street brokerages expect that Synergy Pharmaceuticals Inc (NASDAQ:SGYP) will announce earnings per share (EPS) of ($0.16) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Synergy Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.17) and the highest is ($0.15). Synergy Pharmaceuticals reported earnings of ($0.33) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 51.5%. The firm is scheduled to announce its next earnings results on Wednesday, August 8th.
According to Zacks, analysts expect that Synergy Pharmaceuticals will report full-year earnings of ($0.59) per share for the current fiscal year, with EPS estimates ranging from ($0.62) to ($0.55). For the next year, analysts expect that the company will report earnings of ($0.28) per share, with EPS estimates ranging from ($0.34) to ($0.23). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Synergy Pharmaceuticals.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. Synergy Pharmaceuticals had a negative net margin of 773.82% and a negative return on equity of 652.66%. The company had revenue of $8.59 million during the quarter, compared to analysts’ expectations of $11.18 million. During the same period last year, the company posted ($0.30) earnings per share. The business’s revenue for the quarter was up 776.5% on a year-over-year basis.
Several brokerages have commented on SGYP. BTIG Research set a $7.00 target price on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, May 14th. ValuEngine upgraded shares of Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, May 7th. HC Wainwright set a $7.00 target price on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, May 7th. Oppenheimer reiterated a “hold” rating on shares of Synergy Pharmaceuticals in a report on Sunday, May 13th. Finally, Zacks Investment Research cut shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Synergy Pharmaceuticals has an average rating of “Hold” and a consensus target price of $8.08.
Shares of Synergy Pharmaceuticals traded down $0.03, hitting $1.65, during midday trading on Friday, according to MarketBeat. The stock had a trading volume of 13,345 shares, compared to its average volume of 3,607,810. Synergy Pharmaceuticals has a fifty-two week low of $1.42 and a fifty-two week high of $4.84. The stock has a market cap of $394.79 million, a price-to-earnings ratio of -1.62 and a beta of 1.22. The company has a debt-to-equity ratio of -3.01, a current ratio of 3.09 and a quick ratio of 2.71.
Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Synergy Pharmaceuticals by 7.4% during the fourth quarter. California State Teachers Retirement System now owns 392,004 shares of the biopharmaceutical company’s stock worth $874,000 after purchasing an additional 26,859 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Synergy Pharmaceuticals by 18.2% during the third quarter. Wells Fargo & Company MN now owns 219,676 shares of the biopharmaceutical company’s stock worth $638,000 after purchasing an additional 33,802 shares during the period. HBK Sorce Advisory LLC acquired a new stake in shares of Synergy Pharmaceuticals during the fourth quarter worth approximately $103,000. Exane Derivatives boosted its holdings 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 purchasing an additional 47,774 shares during the period. Finally, Sandy Spring Bank acquired a new stake in shares of Synergy Pharmaceuticals during the fourth quarter worth approximately $109,000. Institutional investors and hedge funds own 44.32% of the company’s stock.
Synergy Pharmaceuticals Company Profile
Synergy Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat gastrointestinal diseases and disorders. Its lead product is plecanatide, a novel uroguanylin based gastrointestinal platform that is traded under the TRULANCE name for the treatment of chronic idiopathic constipation and irritable bowel syndrome.
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