Synergy Pharmaceuticals, Inc. (SGYP) Stake Raised by Amalgamated Bank
Amalgamated Bank lifted its position in shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,074 shares of the biopharmaceutical company’s stock after purchasing an additional 4,061 shares during the period. Amalgamated Bank’s holdings in Synergy Pharmaceuticals were worth $125,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in SGYP. Captrust Financial Advisors purchased a new stake in shares of Synergy Pharmaceuticals during the 2nd quarter worth $122,000. Stephens Inc. AR lifted its position in Synergy Pharmaceuticals by 39.0% in the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 8,000 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in 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 acquiring an additional 24,872 shares during the last quarter. Stifel Financial Corp lifted its position in 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 acquiring an additional 7,750 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Synergy Pharmaceuticals by 17.5% in the second quarter. Janney Montgomery Scott LLC now owns 35,500 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 5,300 shares during the last quarter. 71.47% of the stock is owned by institutional investors and hedge funds.
Shares of Synergy Pharmaceuticals, Inc. (NASDAQ SGYP) opened at 2.88 on Thursday. Synergy Pharmaceuticals, Inc. has a 12 month low of $2.56 and a 12 month high of $7.15. The company has a 50-day moving average of $2.94 and a 200-day moving average of $3.72. The stock’s market capitalization is $647.87 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.08). The business 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 earned ($0.23) EPS. On average, equities research analysts expect that Synergy Pharmaceuticals, Inc. will post ($1.16) EPS for the current fiscal year.
In other 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 value of $99,101.99. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.
A number of equities research analysts recently weighed in on SGYP shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. Oppenheimer Holdings, Inc. reduced their price target on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, September 8th. ValuEngine cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. Finally, Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.90.
Synergy Pharmaceuticals 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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