Synergy Pharmaceuticals Inc. (SGYP) Shares Up 3%
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shot up 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 changing hands. The stock had previously closed at $3.61.
Several brokerages recently commented on SGYP. BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price target on shares of Synergy Pharmaceuticals in a research note on Sunday. Rodman & Renshaw reissued a “buy” rating and issued 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 issued a $6.50 price target on shares of Synergy Pharmaceuticals in a research note on Thursday, May 26th. Finally, Zacks Investment Research cut Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. 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 stock. The company presently has an average rating of “Buy” and an average target price of $10.37.
The stock has a 50 day moving average price of $3.81 and a 200 day moving average price of $3.54. The company’s market capitalization is $650.79 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued 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 analysts forecast that Synergy Pharmaceuticals Inc. will post ($1.01) EPS for the current fiscal year.
Several large investors have added to or reduced their stakes in SGYP. 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 in the last quarter. Oxford Asset Management acquired a new stake in Synergy Pharmaceuticals during the fourth quarter worth approximately $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 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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