Swiss National Bank Has $659,000 Stake in Synergy Pharmaceuticals Inc. (SGYP)
Swiss National Bank maintained its position in Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) during the second quarter, Holdings Channel reports. The institutional investor owned 173,350 shares of the biopharmaceutical company’s stock at the end of the second quarter. Swiss National Bank owned about 0.10% of Synergy Pharmaceuticals worth $659,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Synergy Pharmaceuticals during the second quarter worth approximately $126,000. State Treasurer State of Michigan bought a new stake in Synergy Pharmaceuticals during the second quarter worth $152,000. Cheyne Capital Management UK LLP bought a new stake in Synergy Pharmaceuticals during the second quarter worth $250,000. Nisa Investment Advisors LLC bought a new stake in Synergy Pharmaceuticals during the second quarter worth $363,000. Finally, Creative Planning raised its stake in Synergy Pharmaceuticals by 1.3% in the second quarter. Creative Planning now owns 117,436 shares of the biopharmaceutical company’s stock worth $446,000 after buying an additional 1,450 shares in the last quarter. Institutional investors own 56.67% of the company’s stock.
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) traded down 0.95% during trading on Wednesday, reaching $5.21. 961,403 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $5.23 and a 200 day moving average price of $4.07. Synergy Pharmaceuticals Inc. has a 1-year low of $2.50 and a 1-year high of $7.15. The stock’s market capitalization is $934.91 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings data 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. Equities research analysts expect that Synergy Pharmaceuticals Inc. will post ($1.03) earnings per share for the current year.
SGYP has been the topic of a number of recent research reports. BTIG Research reaffirmed a “buy” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a research report on Friday, September 16th. HC Wainwright set a $15.00 price objective on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, September 8th. Rodman & Renshaw reaffirmed a “buy” rating and set a $15.00 price objective on shares of Synergy Pharmaceuticals in a research report on Thursday, September 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price objective on shares of Synergy Pharmaceuticals in a research report on Sunday, July 17th. Finally, Zacks Investment Research lowered Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $9.75.
In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 54,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $5.69, for a total value of $308,967.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.60% of the stock is currently owned by company insiders.
About Synergy Pharmaceuticals
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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