Synergy Pharmaceuticals Inc. (SGYP) Sees Unusually-High Trading Volume
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shares saw unusually-high trading volume on Wednesday . Approximately 3,761,921 shares changed hands during mid-day trading, an increase of 39% from the previous session’s volume of 2,713,837 shares.The stock last traded at $4.94 and had previously closed at $5.05.
SGYP has been the subject of several analyst reports. Rodman & Renshaw dropped their price objective on shares of Synergy Pharmaceuticals from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 9th. Roth Capital restated a “buy” rating on shares of Synergy Pharmaceuticals in a research report on Monday, May 9th. Zacks Investment Research upgraded 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. Canaccord Genuity restated a “buy” rating and issued a $13.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Finally, BTIG Research restated a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Two equities 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 company’s stock. Synergy Pharmaceuticals has an average rating of “Buy” and an average price target of $10.37.
The company’s market capitalization is $825.45 million. The stock has a 50-day moving average price of $4.33 and a 200-day moving average price of $3.62.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results 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. On average, equities analysts anticipate that Synergy Pharmaceuticals Inc. will post ($1.03) earnings per share for the current year.
An institutional investor recently raised its position in Synergy Pharmaceuticals stock. Schwab Charles Investment Management Inc. raised its position in Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,232 shares of the biopharmaceutical company’s stock after buying an additional 33,129 shares during the period. Schwab Charles Investment Management Inc. owned 0.30% of Synergy Pharmaceuticals worth $1,941,000 as of its most recent SEC filing.
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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