Analysts Set Synergy Pharmaceuticals (SGYP) PT at $10.50

Synergy Pharmaceuticals (NASDAQ:SGYP) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $10.50.

SGYP has been the topic of a number of analyst reports. HC Wainwright set a $7.00 price target on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, January 8th. Cantor Fitzgerald restated a “buy” rating on shares of Synergy Pharmaceuticals in a research note on Thursday, February 1st. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research note on Tuesday, February 6th. BidaskClub upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Oppenheimer restated a “hold” rating on shares of Synergy Pharmaceuticals in a research note on Monday, January 22nd.

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A number of institutional investors and hedge funds have recently bought and sold shares of SGYP. BlackRock Inc. increased its position in shares of Synergy Pharmaceuticals by 8.7% during the 4th quarter. BlackRock Inc. now owns 21,998,125 shares of the biopharmaceutical company’s stock valued at $49,056,000 after purchasing an additional 1,761,725 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Synergy Pharmaceuticals by 71.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,405,377 shares of the biopharmaceutical company’s stock valued at $8,820,000 after purchasing an additional 1,417,177 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of Synergy Pharmaceuticals by 42.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,355,681 shares of the biopharmaceutical company’s stock valued at $6,831,000 after purchasing an additional 696,911 shares during the last quarter. Hikari Power Ltd increased its position in shares of Synergy Pharmaceuticals by 26.7% during the 4th quarter. Hikari Power Ltd now owns 1,900,000 shares of the biopharmaceutical company’s stock valued at $4,237,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Granite Investment Partners LLC purchased a new stake in shares of Synergy Pharmaceuticals during the 4th quarter valued at about $632,000. Institutional investors and hedge funds own 53.08% of the company’s stock.

Synergy Pharmaceuticals stock traded down $0.01 during mid-day trading on Wednesday, reaching $1.80. The stock had a trading volume of 546,094 shares, compared to its average volume of 5,489,437. The stock has a market cap of $446.45, a price-to-earnings ratio of -1.75 and a beta of 1.17. Synergy Pharmaceuticals has a one year low of $1.68 and a one year high of $4.84. The company has a debt-to-equity ratio of -21.05, a current ratio of 4.33 and a quick ratio of 3.88.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.03. The company had revenue of $9.40 million for the quarter, compared to analysts’ expectations of $7.12 million. Synergy Pharmaceuticals had a negative net margin of 1,333.76% and a negative return on equity of 652.66%. The company’s revenue was up 840.0% on a year-over-year basis. equities analysts expect that Synergy Pharmaceuticals will post -0.52 EPS for the current fiscal year.

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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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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