Published On: Fri, Sep 16th, 2016

Synergy Pharmaceuticals’ (SGYP) “Buy” Rating Reiterated at BTIG Research

Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a research report issued on Friday.
Several other equities analysts also recently commented on the company. Rodman & Renshaw reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. HC Wainwright set a $15.00 price objective on Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, September 8th. Roth Capital reaffirmed a “buy” rating and issued a $6.50 price objective on shares of Synergy Pharmaceuticals in a research report on Thursday, May 26th. Finally, Zacks Investment Research downgraded Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $9.75.
Synergy Pharmaceuticals (NASDAQ:SGYP) traded down 4.202% during trading on Friday, hitting $5.585. The stock had a trading volume of 6,127,910 shares. Synergy Pharmaceuticals has a 52-week low of $2.50 and a 52-week high of $7.72. The stock’s 50-day moving average is $4.80 and its 200-day moving average is $3.77. The stock’s market capitalization is $1.00 billion.

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Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. On average, analysts predict that Synergy Pharmaceuticals will post ($1.05) earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of SGYP. State Treasurer State of Michigan purchased a new position in Synergy Pharmaceuticals during the second quarter worth about $152,000. Societe Generale bought a new stake in shares of Synergy Pharmaceuticals during the second quarter worth $4,729,000. California State Teachers Retirement System increased its stake in shares of Synergy Pharmaceuticals by 79.5% in the second quarter. California State Teachers Retirement System now owns 380,444 shares of the biopharmaceutical company’s stock worth $1,446,000 after buying an additional 168,486 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Synergy Pharmaceuticals by 38.0% in the second quarter. Bank of New York Mellon Corp now owns 872,174 shares of the biopharmaceutical company’s stock worth $3,314,000 after buying an additional 240,196 shares during the last quarter. Finally, Cheyne Capital Management UK LLP bought a new stake in shares of Synergy Pharmaceuticals during the second quarter worth $250,000. 56.67% of the stock is currently owned by institutional investors and hedge funds.
Synergy Pharmaceuticals Company Profile
Synergy Pharmaceuticals Inc (Synergy) is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease.

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