Synergy Pharmaceuticals, Inc. (SGYP) Announces Earnings Results, Misses Estimates By $0.08 EPS
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) posted its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.08, Briefing.com reports. The company had revenue of $2.31 million for the quarter, compared to analysts’ expectations of $1.98 million. During the same quarter last year, the business posted ($0.23) EPS.
Synergy Pharmaceuticals (SGYP) traded down 1.12% on Wednesday, hitting $3.53. The stock had a trading volume of 2,297,085 shares. Synergy Pharmaceuticals has a one year low of $3.34 and a one year high of $7.15. The stock has a 50-day moving average of $4.32 and a 200-day moving average of $4.74. The company’s market cap is $794.07 million.
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In other news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $3.77, for a total value of $99,101.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.
A number of equities research analysts have commented on SGYP shares. Canaccord Genuity set a $13.00 target price on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Monday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, June 9th. Rodman & Renshaw reissued a “buy” rating and issued a $18.00 target price on shares of Synergy Pharmaceuticals in a report on Wednesday, June 14th. Oppenheimer Holdings, Inc. set a $9.00 target price on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, ValuEngine downgraded Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Four investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $10.67.
About Synergy Pharmaceuticals
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.
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