Synergy Pharmaceuticals Inc. (SGYP) Trading 5% Higher
Shares of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) traded up 5% during mid-day trading on Friday . The company traded as high as $4.48 and last traded at $4.43, with a volume of 1,705,862 shares traded. The stock had previously closed at $4.22.
Several brokerages have recently weighed in on SGYP. BTIG Research reiterated a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Tuesday, July 19th. Canaccord Genuity reiterated a “buy” rating and issued a $13.00 price target on shares of Synergy Pharmaceuticals in a research report on Sunday, July 17th. Rodman & Renshaw reiterated a “buy” rating and issued a $15.00 price target on shares of Synergy Pharmaceuticals in a research report on Tuesday, July 12th. Roth Capital reiterated a “buy” rating and issued a $6.50 price target on shares of Synergy Pharmaceuticals in a research report on Thursday, May 26th. Finally, Zacks Investment Research cut Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $10.37.
The stock’s 50 day moving average is $3.91 and its 200-day moving average is $3.52. The firm’s market capitalization is $819.78 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.23) by $0.28. On average, equities research analysts expect that Synergy Pharmaceuticals Inc. will post ($1.01) EPS for the current fiscal year.
A hedge fund recently raised its stake in Synergy Pharmaceuticals stock. California State Teachers Retirement System boosted its stake in shares of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 185,372 shares of the biopharmaceutical company’s stock after buying an additional 3,251 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Synergy Pharmaceuticals worth $1,051,000 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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