Synergy Pharmaceuticals (SGYP) Rating Lowered to Market Perform at Oppenheimer

Synergy Pharmaceuticals (NASDAQ:SGYP) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued on Thursday.

Other equities analysts have also issued research reports about the stock. BTIG Research restated a “buy” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. HC Wainwright set a $8.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, October 18th. Cantor Fitzgerald restated a “buy” rating and set a $10.00 price target on shares of Synergy Pharmaceuticals in a research report on Tuesday, November 21st. Canaccord Genuity set a $13.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, November 12th. Finally, Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating and set a $3.25 price target for the company in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Synergy Pharmaceuticals currently has an average rating of “Hold” and an average price target of $8.38.

Synergy Pharmaceuticals (SGYP) opened at $2.18 on Thursday. The firm has a market cap of $537.72, a PE ratio of -1.88 and a beta of 1.22. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13. Synergy Pharmaceuticals has a 1 year low of $1.68 and a 1 year high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million for the quarter, compared to the consensus estimate of $4.53 million. During the same quarter in the previous year, the company posted ($0.22) EPS. equities analysts forecast that Synergy Pharmaceuticals will post -1.04 EPS for the current year.

In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $2.82, for a total transaction of $24,675,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in Synergy Pharmaceuticals during the second quarter worth about $101,000. Advisor Group Inc. boosted its position in Synergy Pharmaceuticals by 25.2% during the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 5,150 shares during the period. Captrust Financial Advisors bought a new position in Synergy Pharmaceuticals during the second quarter worth about $122,000. Amalgamated Bank boosted its position in Synergy Pharmaceuticals by 16.9% during the second quarter. Amalgamated Bank now owns 28,074 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 4,061 shares during the period. Finally, Stephens Inc. AR boosted its position in Synergy Pharmaceuticals by 39.0% during the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 8,000 shares during the period. Hedge funds and other institutional investors own 60.42% of the company’s stock.

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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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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