Citigroup Inc. reaffirmed their sell rating on shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) in a research note published on Wednesday, June 28th. Citigroup Inc. currently has a $3.70 price objective on the biopharmaceutical company’s stock.
SGYP has been the topic of a number of other reports. Oppenheimer Holdings, Inc. set a $9.00 target price on shares of Synergy Pharmaceuticals and gave the company a buy rating in a report on Wednesday, May 10th. BTIG Research reaffirmed a buy rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Wednesday, May 31st. Guggenheim reissued an outperform rating and issued a $10.00 price target on shares of Synergy Pharmaceuticals in a report on Thursday, March 2nd. Canaccord Genuity set a $13.00 target price on shares of Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, March 2nd. Finally, Rodman & Renshaw restated a buy rating and set a $18.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, May 23rd. Four research analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $10.67.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) traded up 0.25% during mid-day trading on Wednesday, hitting $4.06. The company had a trading volume of 2,055,602 shares. The company’s market capitalization is $913.29 million. The firm’s 50-day moving average price is $4.34 and its 200 day moving average price is $4.81. Synergy Pharmaceuticals has a one year low of $3.34 and a one year high of $7.15.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.23) by $0.07. The business had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.10 million. Analysts predict that Synergy Pharmaceuticals will post ($0.95) earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in SGYP. State Street Corp increased its position in shares of Synergy Pharmaceuticals by 100.9% in the first quarter. State Street Corp now owns 12,626,115 shares of the biopharmaceutical company’s stock worth $58,841,000 after buying an additional 6,342,446 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in Synergy Pharmaceuticals during the first quarter worth approximately $11,650,000. Vanguard Group Inc. boosted its stake in Synergy Pharmaceuticals by 18.8% in the first quarter. Vanguard Group Inc. now owns 15,785,763 shares of the biopharmaceutical company’s stock worth $73,561,000 after buying an additional 2,493,557 shares during the last quarter. Pictet Asset Management Ltd. bought a new stake in Synergy Pharmaceuticals during the first quarter worth approximately $8,484,000. Finally, Kingdon Capital Management L.L.C. boosted 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 worth $10,428,000 after buying an additional 669,214 shares during the last quarter. 67.42% of the stock is owned by institutional investors and hedge funds.
Synergy Pharmaceuticals Company Profile
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.
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