BTIG Research reissued their buy rating on shares of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) in a research note published on Friday. BTIG Research currently has a $11.00 price target on the biopharmaceutical company’s stock.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

A number of other analysts have also recently commented on the stock. Rodman & Renshaw reaffirmed a buy rating and set a $15.00 price target on shares of Synergy Pharmaceuticals in a research report on Saturday, August 13th. HC Wainwright set a $15.00 price target on shares of Synergy Pharmaceuticals and gave the company a buy rating in a research report on Thursday, September 8th. Canaccord Genuity reaffirmed a buy rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Zacks Investment Research cut shares of Synergy Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, May 24th. Finally, Roth Capital reaffirmed a buy rating and set a $6.50 price target on shares of Synergy Pharmaceuticals in a research report on Thursday, May 26th. Two equities 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 currently has a consensus rating of Buy and a consensus price target of $9.75.

Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.63 on Friday. The stock has a 50 day moving average price of $4.96 and a 200 day moving average price of $3.84. Synergy Pharmaceuticals has a one year low of $2.50 and a one year high of $7.15. The company’s market cap is $1.01 billion.

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

In other news, major shareholder Paulson & Co. Inc. sold 3,473,713 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $5.61, for a total transaction of $19,487,529.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in SGYP. Legal & General Group Plc raised its stake in Synergy Pharmaceuticals by 60.0% in the second quarter. Legal & General Group Plc now owns 29,343 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 11,001 shares in the last quarter. Principal Financial Group Inc. raised its stake in Synergy Pharmaceuticals by 82.4% in the second quarter. Principal Financial Group Inc. now owns 31,927 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 14,422 shares in the last quarter. Bank of Montreal Can acquired a new stake in Synergy Pharmaceuticals during the second quarter worth $126,000. State Treasurer State of Michigan acquired a new stake in Synergy Pharmaceuticals during the second quarter worth $152,000. Finally, Cheyne Capital Management UK LLP acquired a new stake in Synergy Pharmaceuticals during the second quarter worth $250,000. Hedge funds and other institutional investors own 56.67% of the company’s stock.

Synergy Pharmaceuticals Company Profile

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.

5 Day Chart for NASDAQ:SGYP

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