Synergy Pharmaceuticals Inc. (SGYP) Stock Price Up 3%
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)’s share price rose 3% during trading on Monday . The stock traded as high as $3.76 and last traded at $3.72, with a volume of 1,288,029 shares traded. The stock had previously closed at $3.61.
SGYP has been the subject of several analyst reports. Rodman & Renshaw restated a “buy” rating and set a $16.00 target price on shares of Synergy Pharmaceuticals in a research report on Thursday, April 21st. Roth Capital restated a “buy” rating on shares of Synergy Pharmaceuticals in a research report on Monday, May 9th. BTIG Research restated a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, April 19th. Canaccord Genuity restated a “buy” rating and set a $13.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Finally, Zacks Investment Research upgraded Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Monday, May 16th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $10.37.
The stock’s market capitalization is $670.56 million. The stock has a 50 day moving average of $3.81 and a 200-day moving average of $3.58.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its 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. Equities research analysts expect that Synergy Pharmaceuticals Inc. will post ($1.01) earnings per share for the current fiscal year.
Other large investors have added to or reduced their stakes in the company. California State Teachers Retirement System raised 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 last quarter. Oxford Asset Management acquired a new stake in Synergy Pharmaceuticals during the fourth quarter worth about $1,102,000. Finally, Morgan Stanley raised 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 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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