Synergy Pharmaceuticals, Inc. (SGYP) Earns Buy Rating from Cantor Fitzgerald
Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday. They currently have a $10.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 425.21% from the company’s current price.
Several other research firms have also commented on SGYP. HC Wainwright reissued a “buy” rating and set a $8.00 price target (down from $15.00) on shares of Synergy Pharmaceuticals in a research report on Monday, September 25th. They noted that the move was a valuation call. BidaskClub lowered Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Zacks Investment Research raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Oppenheimer Holdings, Inc. set a $6.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Finally, Rodman & Renshaw reduced their price target on Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Synergy Pharmaceuticals presently has an average rating of “Hold” and an average target price of $7.93.
Synergy Pharmaceuticals (SGYP) traded down $0.02 during trading on Tuesday, reaching $1.90. The company had a trading volume of 3,494,584 shares, compared to its average volume of 5,956,114. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13. Synergy Pharmaceuticals has a 12-month low of $1.68 and a 12-month high of $7.15.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million for the quarter, compared to analyst estimates of $4.53 million. During the same period last year, the firm posted ($0.22) earnings per share. sell-side analysts expect that Synergy Pharmaceuticals will post -1.06 EPS for the current year.
In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $2.82, for a total value of $24,675,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Synergy Pharmaceuticals in the 2nd quarter valued at approximately $101,000. Amalgamated Bank raised its position in shares of Synergy Pharmaceuticals by 7.9% in the 1st quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 1,758 shares in the last quarter. Advisor Group Inc. raised its position in shares of Synergy Pharmaceuticals by 25.2% in the 2nd quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 5,150 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Synergy Pharmaceuticals in the 2nd quarter valued at approximately $122,000. Finally, Stephens Inc. AR raised its position in shares of Synergy Pharmaceuticals by 39.0% in the 2nd quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 8,000 shares in the last quarter. 66.03% of the stock is currently owned by institutional investors.
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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