Synergy Pharmaceuticals Inc. (SGYP) Shares Up 4.3%
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shares shot up 4.3% on Friday . The stock traded as high as $4.65 and last traded at $4.57, with a volume of 1,633,778 shares. The stock had previously closed at $4.38.
Several brokerages have recently weighed in on SGYP. BTIG Research began coverage on shares of Synergy Pharmaceuticals in a report on Thursday. They set a “buy” rating and a $11.00 price objective on the stock. Rodman & Renshaw reiterated a “buy” rating and set a $15.00 price objective on shares of Synergy Pharmaceuticals in a report on Saturday, August 13th. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price objective on shares of Synergy Pharmaceuticals in a report on Sunday, July 17th. Roth Capital reiterated a “buy” rating and set a $6.50 price objective on shares of Synergy Pharmaceuticals in a report on Thursday, May 26th. Finally, Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a 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 issued a strong buy rating to the stock. Synergy Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $10.37.
The company’s 50-day moving average is $4.37 and its 200-day moving average is $3.63. The firm’s market cap is $845.19 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. Equities research analysts expect that Synergy Pharmaceuticals Inc. will post ($1.03) EPS for the current fiscal year.
An institutional investor recently raised its position in Synergy Pharmaceuticals stock. Schwab Charles Investment Management Inc. increased its position in Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) by 10.7% during the fourth quarter, according to its most recent 13F filing 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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