Synergy Pharmaceuticals Inc. (SGYP) Sees Large Volume Increase
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shares saw unusually-high trading volume on Friday . Approximately 4,025,141 shares traded hands during trading, an increase of 23% from the previous session’s volume of 3,267,425 shares.The stock last traded at $3.54 and had previously closed at $3.83.
SGYP has been the topic of a number of research analyst reports. Rodman & Renshaw dropped their price target on Synergy Pharmaceuticals from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, May 9th. 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. Zacks Investment Research raised Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Monday, May 16th. 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. Finally, BTIG Research reissued a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, April 19th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $10.37.
The company’s market capitalization is $648.99 million. The firm’s 50-day moving average price is $3.81 and its 200-day moving average price is $3.60.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.28. Analysts predict that Synergy Pharmaceuticals Inc. will post ($1.01) EPS for the current year.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. Morgan Stanley increased its position in Synergy Pharmaceuticals by 6.8% in the fourth quarter. Morgan Stanley now owns 423,520 shares of the biopharmaceutical company’s stock worth $2,401,000 after buying an additional 27,037 shares during the period. Oxford Asset Management purchased a new position in Synergy Pharmaceuticals during the fourth quarter worth $1,102,000. Finally, California State Teachers Retirement System increased its position in Synergy Pharmaceuticals by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 185,372 shares of the biopharmaceutical company’s stock worth $1,051,000 after buying an additional 3,251 shares during the period.
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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