Wall Street brokerages expect Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) to announce earnings of ($0.22) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Synergy Pharmaceuticals’ earnings. Synergy Pharmaceuticals reported earnings per share of ($0.23) during the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The company is expected to announce its next earnings results on Monday, August 14th.

According to Zacks, analysts expect that Synergy Pharmaceuticals will report full year earnings of ($0.72) per share for the current fiscal year, with EPS estimates ranging from ($0.90) to ($0.47). For the next year, analysts anticipate that the business will report earnings of ($0.14) per share, with EPS estimates ranging from ($0.50) to $0.07. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Synergy Pharmaceuticals.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.08. The company had revenue of $2.31 million for the quarter, compared to analysts’ expectations of $1.98 million. During the same quarter in the previous year, the business earned ($0.23) EPS.

A number of brokerages have commented on SGYP. Oppenheimer Holdings, Inc. set a $9.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, May 10th. BTIG Research restated a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Wednesday, May 31st. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Citigroup Inc. restated a “sell” rating and set a $3.70 target price on shares of Synergy Pharmaceuticals in a research note on Wednesday, June 28th. Finally, Canaccord Genuity set a $13.00 target price on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, July 31st. Four research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.67.

Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 3.53 on Thursday. The company’s market cap is $794.07 million. The company has a 50-day moving average of $4.28 and a 200 day moving average of $4.72. Synergy Pharmaceuticals has a one year low of $3.34 and a one year high of $7.15.

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In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $3.77, for a total transaction of $99,101.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.80% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Synergy Pharmaceuticals by 60.9% in the second quarter. JPMorgan Chase & Co. now owns 1,988,200 shares of the biopharmaceutical company’s stock worth $8,848,000 after buying an additional 752,475 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Synergy Pharmaceuticals by 14.4% in the second quarter. Oppenheimer & Co. Inc. now owns 95,290 shares of the biopharmaceutical company’s stock worth $424,000 after buying an additional 12,003 shares in the last quarter. Hikari Power Ltd raised its position in Synergy Pharmaceuticals by 233.3% in the second quarter. Hikari Power Ltd now owns 500,000 shares of the biopharmaceutical company’s stock worth $2,225,000 after buying an additional 350,000 shares in the last quarter. Swiss National Bank raised its position in Synergy Pharmaceuticals by 14.4% in the second quarter. Swiss National Bank now owns 371,650 shares of the biopharmaceutical company’s stock worth $1,654,000 after buying an additional 46,800 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Synergy Pharmaceuticals by 11.2% in the second quarter. Principal Financial Group Inc. now owns 41,507 shares of the biopharmaceutical company’s stock worth $185,000 after buying an additional 4,164 shares in the last quarter. 67.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Synergy Pharmaceuticals (NASDAQ:SGYP)

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