Synergy Pharmaceuticals Inc. (SGYP) Shares Down 1.9%
Shares of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) were down 1.9% on Tuesday . The company traded as low as $5.09 and last traded at $5.12, with a volume of 1,123,655 shares trading hands. The stock had previously closed at $5.22.
A number of analysts have weighed in on SGYP shares. Rodman & Renshaw lowered their price target on Synergy Pharmaceuticals from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 9th. Roth Capital reissued a “buy” rating and issued a $6.50 price objective on shares of Synergy Pharmaceuticals in a research note on Thursday, May 26th. Zacks Investment Research raised Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Monday, May 16th. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price objective on shares of Synergy Pharmaceuticals in a research note on Monday, May 23rd. Finally, BTIG Research reissued a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a research note on Tuesday, July 19th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $10.37.
The stock’s market cap is $906.20 million. The stock’s 50-day moving average is $4.31 and its 200 day moving average is $3.61.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. On average, equities research analysts forecast that Synergy Pharmaceuticals Inc. will post ($1.03) EPS for the current fiscal year.
A hedge fund recently raised its stake in Synergy Pharmaceuticals stock. Schwab Charles Investment Management Inc. boosted its stake in Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) by 10.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 342,232 shares of the biopharmaceutical company’s stock after buying an additional 33,129 shares during the period. Schwab Charles Investment Management Inc. owned 0.30% of Synergy Pharmaceuticals worth $1,941,000 as of its most recent filing with the SEC.
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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