BidaskClub cut shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) from a sell rating to a strong sell rating in a report released on Saturday morning.

SGYP has been the topic of several other reports. Oppenheimer Holdings, Inc. set a $9.00 price objective on Synergy Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, May 10th. BTIG Research reaffirmed a buy rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Wednesday, May 31st. Zacks Investment Research raised Synergy Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, July 12th. Citigroup Inc. reaffirmed a sell rating and set a $3.70 target price on shares of Synergy Pharmaceuticals in a research report on Wednesday, June 28th. Finally, Canaccord Genuity set a $13.00 target price on Synergy Pharmaceuticals and gave the company a buy rating in a research report on Monday, July 31st. Four analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. Synergy Pharmaceuticals presently has a consensus rating of Hold and an average target price of $10.67.

Synergy Pharmaceuticals (NASDAQ SGYP) traded up 1.08% during trading on Friday, hitting $3.73. 3,254,919 shares of the company’s stock traded hands. Synergy Pharmaceuticals has a 52-week low of $3.34 and a 52-week high of $7.15. The company’s market cap is $839.06 million. The company’s 50 day moving average price is $4.32 and its 200 day moving average price is $4.74.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.23) by $0.07. The business had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million. Analysts expect that Synergy Pharmaceuticals will post ($0.95) earnings per share for the current year.

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Large investors have recently made changes to their positions in the company. Amalgamated Bank raised its stake in shares of Synergy Pharmaceuticals by 7.9% in the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,758 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Synergy Pharmaceuticals by 637.1% in the second quarter. BNP Paribas Arbitrage SA now owns 28,776 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 24,872 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Synergy Pharmaceuticals by 27.4% in the first quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 6,500 shares during the period. Stifel Financial Corp raised its stake in shares of Synergy Pharmaceuticals by 34.4% in the first quarter. Stifel Financial Corp now owns 30,289 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 7,750 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Synergy Pharmaceuticals by 12.9% in the first quarter. Principal Financial Group Inc. now owns 37,343 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 4,267 shares during the period. 67.40% of the stock is owned by institutional investors.

Synergy Pharmaceuticals Company Profile

Synergy Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s product candidates include TRULANCE (plecanatide) and dolcanatide. The Company is engaged in the discovery, research and development efforts around analogs of uroguanylin for the treatment of GI diseases and disorders.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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