Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) traded down 4% during trading on Wednesday . The stock traded as low as $4.56 and last traded at $4.59, with a volume of 1,860,387 shares trading hands. The stock had previously closed at $4.78.

Several equities research analysts have commented on the company. BTIG Research restated a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Monday, May 23rd. Roth Capital restated a “buy” rating on shares of Synergy Pharmaceuticals in a research note on Monday, May 9th. Rodman & Renshaw restated a “buy” rating and issued a $15.00 target price on shares of Synergy Pharmaceuticals in a research note on Tuesday, July 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a research report on Sunday, July 17th. Finally, Zacks Investment Research lowered Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $10.37.

The firm’s market cap is $848.78 million. The firm has a 50-day moving average price of $4.44 and a 200-day moving average price of $3.67.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. On average, equities research analysts anticipate 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. Ameriprise Financial Inc. boosted its position in Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,259 shares of the biopharmaceutical company’s stock after buying an additional 21,591 shares during the period. Ameriprise Financial Inc. owned 0.27% of Synergy Pharmaceuticals worth $1,770,000 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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