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. “
SGYP has been the topic of a number of other reports. Rodman & Renshaw reiterated a buy rating and issued a $15.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, July 12th. Canaccord Genuity reiterated a buy rating and issued a $13.00 target price on shares of Synergy Pharmaceuticals in a research report on Sunday, July 17th. BTIG Research reiterated a buy rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, July 19th. Finally, HC Wainwright set a $15.00 target price on Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $9.75.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.16 on Wednesday. The company’s market capitalization is $925.94 million. Synergy Pharmaceuticals has a 12 month low of $2.50 and a 12 month high of $7.15. The stock has a 50 day moving average price of $5.27 and a 200-day moving average price of $4.10.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.03. Analysts expect that Synergy Pharmaceuticals will post ($1.03) earnings per share for the current fiscal year.
In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 54,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $5.69, for a total transaction of $308,967.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.60% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Asymmetry Capital Management L.P. bought a new stake in shares of Synergy Pharmaceuticals during the second quarter worth about $1,133,000. DekaBank Deutsche Girozentrale increased its stake in shares of Synergy Pharmaceuticals by 59.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 101,000 shares of the biopharmaceutical company’s stock valued at $378,000 after buying an additional 37,500 shares during the last quarter. State Treasurer State of Michigan acquired a new stake in shares of Synergy Pharmaceuticals during the second quarter valued at $152,000. Societe Generale acquired a new stake in shares of Synergy Pharmaceuticals during the second quarter valued at $4,729,000. Finally, California State Teachers Retirement System increased its stake in shares of Synergy Pharmaceuticals by 79.5% in the second quarter. California State Teachers Retirement System now owns 380,444 shares of the biopharmaceutical company’s stock valued at $1,446,000 after buying an additional 168,486 shares during the last quarter. Institutional investors and hedge funds own 56.54% of the company’s stock.
Synergy Pharmaceuticals Company Profile
Synergy Pharmaceuticals Inc (Synergy) is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease.
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