Synergy Pharmaceuticals Inc. (SGYP) Shares Down 4.3%
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shares traded down 4.3% 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.
Several research analysts have recently weighed in on the stock. BTIG Research reissued a “buy” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, March 21st. Roth Capital reissued a “buy” rating on shares of Synergy Pharmaceuticals in a research report on Monday, May 9th. Rodman & Renshaw lowered their price target on shares of Synergy Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, March 21st. Zacks Investment Research cut shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, Canaccord Genuity reissued a “buy” rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $10.37.
The stock’s 50 day moving average is $3.81 and its 200 day moving average is $3.60. The company’s market cap is $633.71 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 analysts’ consensus estimates of ($0.23) by $0.28. Equities research analysts predict that Synergy Pharmaceuticals Inc. will post ($1.01) earnings per share for the current year.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its position in shares of 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 in the last quarter. Oxford Asset Management purchased a new position in shares of Synergy Pharmaceuticals during the fourth quarter worth $1,102,000. Finally, California State Teachers Retirement System boosted its position in shares of 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 in the last quarter.
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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