Synergy Pharmaceuticals Inc. (SGYP) Sees Strong Trading Volume
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) shares saw unusually-high trading volume on Wednesday . Approximately 3,761,921 shares were traded during 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 topic of several recent analyst reports. Rodman & Renshaw reaffirmed a “buy” rating and set a $15.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. BTIG Research reaffirmed a “buy” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. 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. 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. Finally, Roth Capital reissued a “buy” rating on shares of Synergy Pharmaceuticals in a report on Monday, May 9th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Synergy Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $10.37.
The stock’s market cap is $803.92 million. The company’s 50-day moving average price is $4.37 and its 200 day moving average price is $3.63.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.03. On average, equities research analysts predict that Synergy Pharmaceuticals Inc. will post ($1.03) earnings per share for the current year.
A hedge fund recently raised its stake in Synergy Pharmaceuticals stock. Schwab Charles Investment Management Inc. boosted its stake in Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.30% of Synergy Pharmaceuticals worth $1,941,000 at the end of the most recent reporting 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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