Synergy Pharmaceuticals Inc. (SGYP) Sees Large Volume Increase
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shares saw an uptick in trading volume on Friday . 4,025,141 shares traded hands during trading, an increase of 23% from the previous session’s volume of 3,267,425 shares.The stock last traded at $3.54 and had previously closed at $3.83.
A number of brokerages have recently issued reports on SGYP. Rodman & Renshaw reiterated a “buy” rating and set a $15.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, July 12th. Roth Capital reissued a “buy” rating and set a $6.50 price objective on shares of Synergy Pharmaceuticals in a report on Thursday, May 26th. Zacks Investment Research downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. BTIG Research reissued a “buy” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Monday, May 23rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Synergy Pharmaceuticals in a report on Monday, May 23rd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.37.
The stock’s 50 day moving average is $3.81 and its 200 day moving average is $3.58. The firm’s market cap is $648.99 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.28. On average, analysts expect that Synergy Pharmaceuticals Inc. will post ($1.01) EPS for the current fiscal year.
Several hedge funds and institutional investors have bought and sold shares of the company. Morgan Stanley increased its position 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 last quarter. Oxford Asset Management purchased a new stake in Synergy Pharmaceuticals during the fourth quarter worth $1,102,000. 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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