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. BTIG Research restated a buy rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Tuesday, July 19th. Rodman & Renshaw restated a buy rating and issued a $15.00 price objective on shares of Synergy Pharmaceuticals in a report on Tuesday, July 12th. HC Wainwright set a $15.00 price objective on shares of Synergy Pharmaceuticals and gave the company a buy rating in a report on Thursday, September 8th. Finally, Canaccord Genuity restated a buy rating and issued a $13.00 price objective on shares of Synergy Pharmaceuticals in a report on Sunday, July 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $9.75.
Synergy Pharmaceuticals (NASDAQ:SGYP) traded down 1.36% during midday trading on Wednesday, reaching $5.07. 836,697 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $5.24 and its 200-day moving average price is $4.08. The company’s market capitalization is $909.79 million. Synergy Pharmaceuticals has a 1-year low of $2.50 and a 1-year high of $7.15.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. Equities analysts expect that Synergy Pharmaceuticals will post ($1.03) EPS for the current year.
In related news, major shareholder Paulson & Co. Inc. sold 54,300 shares of Synergy Pharmaceuticals stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $5.69, for a total transaction of $308,967.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Asymmetry Capital Management L.P. acquired a new position in Synergy Pharmaceuticals during the second quarter worth approximately $1,133,000. DekaBank Deutsche Girozentrale raised its position in Synergy Pharmaceuticals by 59.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 101,000 shares of the biopharmaceutical company’s stock worth $378,000 after buying an additional 37,500 shares in the last quarter. State Treasurer State of Michigan acquired a new position in Synergy Pharmaceuticals during the second quarter worth approximately $152,000. Societe Generale acquired a new position in Synergy Pharmaceuticals during the second quarter worth approximately $4,729,000. Finally, California State Teachers Retirement System raised its position in 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 worth $1,446,000 after buying an additional 168,486 shares in the last quarter. Institutional investors own 56.67% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Synergy Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synergy Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.