Synergy Pharmaceuticals (NASDAQ:SGYP) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday.

Other equities analysts have also recently issued research reports about the company. HC Wainwright set a $8.00 price target on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 18th. Oppenheimer set a $6.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, October 10th. Cantor Fitzgerald reiterated a “buy” rating and issued a $10.00 target price on shares of Synergy Pharmaceuticals in a report on Tuesday, November 21st. BTIG Research reiterated a “buy” rating and issued a $7.00 target price on shares of Synergy Pharmaceuticals in a report on Tuesday, November 14th. Finally, Canaccord Genuity set a $13.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, November 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Synergy Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $8.28.

Synergy Pharmaceuticals (SGYP) opened at $2.02 on Tuesday. The firm has a market capitalization of $498.25, a P/E ratio of -1.74 and a beta of 1.13. 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 has a 1-year low of $1.68 and a 1-year high of $6.45.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.06. The firm had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $4.53 million. During the same quarter in the prior year, the business earned ($0.22) EPS. equities research analysts expect that Synergy Pharmaceuticals will post -1.03 earnings per share for the current fiscal year.

In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of Synergy Pharmaceuticals 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in SGYP. Vanguard Group Inc. boosted its holdings 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 worth $77,530,000 after purchasing an additional 1,636,563 shares during the period. Cheyne Capital Management UK LLP lifted its stake in shares of Synergy Pharmaceuticals by 1,060.7% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 1,625,000 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 1,485,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Synergy Pharmaceuticals by 71.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,405,377 shares of the biopharmaceutical company’s stock worth $8,820,000 after acquiring an additional 1,417,177 shares during the last quarter. Hikari Power Ltd lifted its stake in shares of Synergy Pharmaceuticals by 200.0% during the 3rd quarter. Hikari Power Ltd now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $4,350,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Synergy Pharmaceuticals by 42.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,355,681 shares of the biopharmaceutical company’s stock worth $6,831,000 after acquiring an additional 696,911 shares during the last quarter. Hedge funds and other institutional investors own 60.67% 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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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