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.

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