Synergy Pharmaceuticals Inc. (SGYP) Stock Price Down 1.9%
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shares traded 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 research analysts have recently weighed in on the stock. BTIG Research reissued a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Roth Capital reissued a “buy” rating on shares of Synergy Pharmaceuticals in a research report on Monday, May 9th. Rodman & Renshaw reissued a “buy” rating and set a $15.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, July 12th. Canaccord Genuity reissued a “buy” rating and set a $13.00 target price on shares of Synergy Pharmaceuticals in a research report on Sunday, July 17th. Finally, Zacks Investment Research downgraded shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $10.37.
The company’s 50 day moving average price is $4.35 and its 200 day moving average price is $3.63. The firm’s market cap is $825.45 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its 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 fiscal year.
An institutional investor recently raised its position 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 Form 13F filing with the SEC. The fund 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 about 0.30% of Synergy Pharmaceuticals worth $1,941,000 as of its most recent SEC filing.
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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