Oppenheimer & Co. Inc. Acquires 12,003 Shares of Synergy Pharmaceuticals, Inc. (SGYP)
Oppenheimer & Co. Inc. raised its holdings in Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 14.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,290 shares of the biopharmaceutical company’s stock after purchasing an additional 12,003 shares during the period. Oppenheimer & Co. Inc.’s holdings in Synergy Pharmaceuticals were worth $424,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Alambic Investment Management L.P. bought a new stake in Synergy Pharmaceuticals in the 1st quarter valued at about $612,000. Sei Investments Co. lifted its holdings in shares of Synergy Pharmaceuticals by 18.2% during the 2nd quarter. Sei Investments Co. now owns 367,779 shares of the biopharmaceutical company’s stock worth $1,637,000 after acquiring an additional 56,595 shares during the period. EAM Investors LLC bought a new stake in shares of Synergy Pharmaceuticals during the 1st quarter worth approximately $2,797,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Synergy Pharmaceuticals by 47.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 78,636 shares of the biopharmaceutical company’s stock worth $366,000 after acquiring an additional 25,300 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Synergy Pharmaceuticals by 27.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 6,500 shares during the period. 71.48% of the stock is owned by hedge funds and other institutional investors.
SGYP has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. Zacks Investment Research downgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a report on Monday, July 10th. BidaskClub downgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Synergy Pharmaceuticals in a report on Monday, June 12th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.32.
In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 26,287 shares of Synergy Pharmaceuticals stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $3.77, for a total transaction of $99,101.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.
Synergy Pharmaceuticals, Inc. (SGYP) opened at 2.70 on Friday. Synergy Pharmaceuticals, Inc. has a 52-week low of $2.57 and a 52-week high of $7.15. The company’s 50-day moving average is $3.14 and its 200-day moving average is $4.08. The firm’s market capitalization is $607.38 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The business had revenue of $2.31 million for the quarter, compared to analyst estimates of $1.98 million. During the same period in the previous year, the firm posted ($0.23) EPS. Analysts forecast that Synergy Pharmaceuticals, Inc. will post ($1.14) EPS for the current fiscal year.
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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