Synergy Pharmaceuticals Inc. (SGYP) Sees Strong Trading Volume
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) saw an uptick in trading volume on Monday . 3,119,306 shares were traded during trading, an increase of 38% from the previous session’s volume of 2,264,797 shares.The stock last traded at $4.78 and had previously closed at $4.56.
Several brokerages have recently weighed in on SGYP. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price objective on shares of Synergy Pharmaceuticals in a report on Sunday, July 17th. Roth Capital reissued a “buy” rating and set a $6.50 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, April 19th. BTIG Research reissued a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Monday, May 16th. Finally, Rodman & Renshaw reissued a “buy” rating and set a $15.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Synergy Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $10.37.
The stock’s market capitalization is $828.77 million. The stock’s 50 day moving average is $3.93 and its 200 day moving average is $3.52.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. On average, analysts forecast 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 raised its position in Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.16% of Synergy Pharmaceuticals worth $1,051,000 at the end of the most recent quarter.
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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