Synergy Pharmaceuticals Inc. (SGYP) Shares Down 4.3%
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)’s share price dropped 4.3% during trading on Wednesday . The stock traded as low as $3.88 and last traded at $3.97, with a volume of 2,234,082 shares changing hands. The stock had previously closed at $4.15.
A number of equities research analysts recently commented on SGYP shares. Rodman & Renshaw decreased their target price on Synergy Pharmaceuticals from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 9th. Roth Capital reiterated a “buy” rating and issued a $6.50 target price on shares of Synergy Pharmaceuticals in a research report on Thursday, May 26th. Zacks Investment Research upgraded Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Monday, May 16th. Canaccord Genuity reiterated a “buy” rating and issued a $13.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Finally, BTIG Research reiterated a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, April 19th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Synergy Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $10.37.
The stock’s 50 day moving average price is $3.79 and its 200 day moving average price is $3.59. The company’s market cap is $695.73 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.23) by $0.28. Analysts predict that Synergy Pharmaceuticals Inc. will post ($1.01) EPS for the current year.
Several large investors have bought and sold shares of the stock. EAM Investors LLC acquired a new stake in Synergy Pharmaceuticals during the fourth quarter worth approximately $3,672,000. Oxford Asset Management acquired a new stake in Synergy Pharmaceuticals during the fourth quarter worth approximately $1,102,000. Morgan Stanley boosted its stake in Synergy Pharmaceuticals by 6.8% in the fourth quarter. Morgan Stanley now owns 423,520 shares of the biopharmaceutical company’s stock worth $2,401,000 after buying an additional 27,037 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Synergy Pharmaceuticals by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 185,372 shares of the biopharmaceutical company’s stock worth $1,051,000 after buying an additional 3,251 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.