Analysts expect Synergy Pharmaceuticals Inc (NASDAQ:SGYP) to post earnings of ($0.16) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Synergy Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.17). Synergy Pharmaceuticals posted earnings of ($0.33) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 51.5%. The business is expected to report its next quarterly earnings report 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 financial year, analysts forecast that the company will report earnings of ($0.29) per share, with EPS estimates ranging from ($0.34) to ($0.23). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Synergy Pharmaceuticals.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, beating 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 business had revenue of $8.59 million for the quarter, compared to analyst estimates of $11.18 million. During the same period in the previous year, the business earned ($0.30) EPS. The firm’s revenue was up 776.5% on a year-over-year basis.
A number of research firms have commented on SGYP. HC Wainwright set a $7.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, March 5th. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. BidaskClub upgraded shares of Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 21st. Oppenheimer restated a “hold” rating on shares of Synergy Pharmaceuticals in a research report on Thursday, March 22nd. Finally, Cantor Fitzgerald restated a “hold” rating on shares of Synergy Pharmaceuticals in a research report on Sunday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $8.08.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Synergy Pharmaceuticals by 8.7% during the fourth quarter. BlackRock Inc. now owns 21,998,125 shares of the biopharmaceutical company’s stock worth $49,056,000 after purchasing an additional 1,761,725 shares in the last quarter. Hikari Power Ltd lifted its position in shares of Synergy Pharmaceuticals by 5.3% during the first quarter. Hikari Power Ltd now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $3,660,000 after purchasing an additional 100,000 shares in the last quarter. CVI Holdings LLC acquired a new position in shares of Synergy Pharmaceuticals during the first quarter worth approximately $3,235,000. Schwab Charles Investment Management Inc. lifted its position in shares of Synergy Pharmaceuticals by 16.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,223,644 shares of the biopharmaceutical company’s stock worth $2,240,000 after purchasing an additional 172,236 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Synergy Pharmaceuticals by 2,579.3% during the first quarter. Millennium Management LLC now owns 504,383 shares of the biopharmaceutical company’s stock worth $923,000 after purchasing an additional 485,558 shares in the last quarter. Hedge funds and other institutional investors own 44.26% of the company’s stock.
Synergy Pharmaceuticals opened at $1.77 on Friday, MarketBeat reports. The stock has a market capitalization of $444.13 million, a price-to-earnings ratio of -1.74 and a beta of 1.23. Synergy Pharmaceuticals has a 12 month low of $1.42 and a 12 month high of $4.64. The company has a current ratio of 3.09, a quick ratio of 2.71 and a debt-to-equity ratio of -3.01.
About Synergy Pharmaceuticals
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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