HighTower Advisors LLC Has $3.33 Million Stake in Synergy Pharmaceuticals, Inc. (SGYP)

HighTower Advisors LLC reduced its stake in Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 13.3% during the first quarter, Holdings Channel reports. The fund owned 715,048 shares of the biopharmaceutical company’s stock after selling 109,901 shares during the period. HighTower Advisors LLC’s holdings in Synergy Pharmaceuticals were worth $3,325,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Credit Suisse AG increased its stake in Synergy Pharmaceuticals by 202.3% in the first quarter. Credit Suisse AG now owns 728,352 shares of the biopharmaceutical company’s stock valued at $3,395,000 after buying an additional 487,434 shares during the last quarter. Family Management Corp increased its stake in Synergy Pharmaceuticals by 159.4% in the first quarter. Family Management Corp now owns 41,500 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 25,500 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Synergy Pharmaceuticals by 5.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 134,855 shares of the biopharmaceutical company’s stock valued at $628,000 after buying an additional 7,195 shares during the last quarter. Highbridge Capital Management LLC increased its stake in Synergy Pharmaceuticals by 19.8% in the first quarter. Highbridge Capital Management LLC now owns 62,106 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 10,267 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. increased its stake in Synergy Pharmaceuticals by 42.7% in the first quarter. Kingdon Capital Management L.L.C. now owns 2,237,701 shares of the biopharmaceutical company’s stock valued at $10,428,000 after buying an additional 669,214 shares during the last quarter. 67.39% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

Synergy Pharmaceuticals, Inc. (NASDAQ SGYP) traded up 1.634% on Friday, hitting $4.665. 3,876,453 shares of the stock traded hands. Synergy Pharmaceuticals, Inc. has a 12-month low of $3.34 and a 12-month high of $7.15. The stock has a 50-day moving average of $3.94 and a 200-day moving average of $5.03. The firm’s market cap is $1.05 billion.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.07. The firm had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.10 million. Analysts forecast that Synergy Pharmaceuticals, Inc. will post ($0.93) earnings per share for the current year.

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Several research firms have recently commented on SGYP. BidaskClub raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday. Oppenheimer Holdings, Inc. set a $10.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, March 2nd. Canaccord Genuity set a $13.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, March 2nd. Rodman & Renshaw reaffirmed a “buy” rating and issued a $18.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, March 3rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Synergy Pharmaceuticals has an average rating of “Hold” and an average price target of $11.44.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SGYP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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