Shares of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shot up 3.1% during mid-day trading on Friday . The stock traded as high as $4.95 and last traded at $4.93, with a volume of 1,655,708 shares. The stock had previously closed at $4.78.

Several brokerages recently issued reports on SGYP. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price target on shares of Synergy Pharmaceuticals in a report on Sunday, July 17th. Rodman & Renshaw reissued a “buy” rating and issued a $15.00 price target on shares of Synergy Pharmaceuticals in a report on Saturday. Zacks Investment Research downgraded Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Monday, May 23rd. Finally, Roth Capital reissued a “buy” rating and issued a $6.50 price target on shares of Synergy Pharmaceuticals in a report on Thursday, May 26th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Synergy Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $10.37.

The stock’s market cap is $895.44 million. The stock’s 50-day moving average is $4.03 and its 200 day moving average is $3.54.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.03. On average, equities analysts predict that Synergy Pharmaceuticals Inc. will post ($1.03) earnings per share for the current year.

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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