Shares of Synergy Pharmaceuticals Inc (NASDAQ:SGYP) gapped down prior to trading on Monday . The stock had previously closed at $2.51, but opened at $2.44. Synergy Pharmaceuticals shares last traded at $2.18, with a volume of 14851000 shares.

Several analysts recently commented on SGYP shares. HC Wainwright set a $7.00 price objective on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 4th. Citigroup reaffirmed a “sell” rating and issued a $2.50 price objective (down previously from $3.20) on shares of Synergy Pharmaceuticals in a report on Wednesday, September 13th. Oppenheimer lowered Synergy Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday. BidaskClub raised Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. Finally, Canaccord Genuity set a $13.00 price objective on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, November 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.38.

The company has a market cap of $547.59, a PE ratio of -1.91 and a beta of 1.22. 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 released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $4.53 million. During the same quarter last year, the firm posted ($0.22) earnings per share. equities research analysts expect that Synergy Pharmaceuticals Inc will post -1.04 earnings per share for the current fiscal year.

In related news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of Synergy Pharmaceuticals stock in a transaction on Friday, November 10th. The stock was sold at an average price of $2.82, for a total transaction of $24,675,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGYP. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Synergy Pharmaceuticals by 46.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 194,359 shares of the biopharmaceutical company’s stock valued at $562,000 after acquiring an additional 61,200 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Synergy Pharmaceuticals by 42.0% in the third quarter. Alyeska Investment Group L.P. now owns 2,355,681 shares of the biopharmaceutical company’s stock valued at $6,831,000 after acquiring an additional 696,911 shares in the last quarter. OxFORD Asset Management LLP lifted its position in shares of Synergy Pharmaceuticals by 42.5% in the third quarter. OxFORD Asset Management LLP now owns 2,040,297 shares of the biopharmaceutical company’s stock valued at $5,784,000 after acquiring an additional 608,402 shares in the last quarter. Family Management Corp lifted its position in shares of Synergy Pharmaceuticals by 94.0% in the third quarter. Family Management Corp now owns 80,500 shares of the biopharmaceutical company’s stock valued at $233,000 after acquiring an additional 39,000 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Synergy Pharmaceuticals by 101.3% in the third quarter. Brown Advisory Inc. now owns 158,000 shares of the biopharmaceutical company’s stock valued at $458,000 after acquiring an additional 79,500 shares in the last quarter. Institutional investors own 60.42% of the company’s stock.

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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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