Synergy Pharmaceuticals Inc. (SGYP) Trading Up 5%
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shares were up 5% during mid-day trading on Friday . The stock traded as high as $4.48 and last traded at $4.43, with a volume of 1,705,862 shares. The stock had previously closed at $4.22.
Several research analysts have issued reports on SGYP shares. Rodman & Renshaw reiterated a “buy” rating and issued a $16.00 price objective on shares of Synergy Pharmaceuticals in a research report on Thursday, April 21st. Roth Capital reiterated a “buy” rating on shares of Synergy Pharmaceuticals in a research report on Monday, May 9th. BTIG Research reiterated a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a research report on Tuesday, April 19th. Canaccord Genuity reiterated a “buy” rating and issued a $13.00 price objective 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 price objective for the company in a research report on Monday, May 16th. Two 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’s stock. The company currently has an average rating of “Buy” and a consensus price target of $10.37.
The company’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.52. The company’s market cap is $819.78 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings data 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, equities research analysts expect that Synergy Pharmaceuticals Inc. will post ($1.01) EPS for the current year.
A hedge fund recently raised its stake in Synergy Pharmaceuticals stock. California State Teachers Retirement System increased its position in shares of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,372 shares of the biopharmaceutical company’s stock after buying an additional 3,251 shares during the period. California State Teachers Retirement System owned about 0.16% of Synergy Pharmaceuticals worth $1,051,000 at the end of the most recent 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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