Cheyne Capital Management UK LLP grew its position in Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 1,060.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,625,000 shares of the biopharmaceutical company’s stock after buying an additional 1,485,000 shares during the quarter. Synergy Pharmaceuticals accounts for about 0.7% of Cheyne Capital Management UK LLP’s portfolio, making the stock its 28th largest holding. Cheyne Capital Management UK LLP owned about 0.72% of Synergy Pharmaceuticals worth $188,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Synergy Pharmaceuticals by 10.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,422,326 shares of the biopharmaceutical company’s stock valued at $77,530,000 after buying an additional 1,636,563 shares in the last quarter. State Street Corp increased its position in Synergy Pharmaceuticals by 2.4% during the 2nd quarter. State Street Corp now owns 12,933,104 shares of the biopharmaceutical company’s stock worth $57,552,000 after purchasing an additional 306,989 shares in the last quarter. Northern Trust Corp increased its position in Synergy Pharmaceuticals by 15.3% during the 2nd quarter. Northern Trust Corp now owns 2,804,768 shares of the biopharmaceutical company’s stock worth $12,481,000 after purchasing an additional 372,683 shares in the last quarter. Pictet Asset Management Ltd. increased its position in Synergy Pharmaceuticals by 30.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,611,536 shares of the biopharmaceutical company’s stock worth $7,574,000 after purchasing an additional 615,025 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its position in Synergy Pharmaceuticals by 2.7% during the 2nd quarter. TimesSquare Capital Management LLC now owns 2,568,500 shares of the biopharmaceutical company’s stock worth $11,430,000 after purchasing an additional 68,500 shares in the last quarter. Institutional investors own 72.10% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Rodman & Renshaw lowered their price objective on shares of Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. lowered their price objective 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. Canaccord Genuity set a $13.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, July 31st. BidaskClub cut shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, HC Wainwright set a $15.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Synergy Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $8.02.

In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $2.82, for a total transaction of $24,675,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

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Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) traded up $0.14 on Thursday, reaching $2.03. 6,077,308 shares of the company’s stock were exchanged, compared to its average volume of 5,905,242. Synergy Pharmaceuticals, Inc. has a 52-week low of $1.68 and a 52-week high of $7.15. The company has a debt-to-equity ratio of -68.13, a quick ratio of 3.88 and a current ratio of 4.26.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.06. The business had revenue of $5.01 million for the quarter, compared to the consensus estimate of $4.53 million. During the same period in the previous year, the firm earned ($0.22) earnings per share. equities research analysts forecast that Synergy Pharmaceuticals, Inc. will post -1.06 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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