BTIG Research reiterated their positive rating on shares of Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) in a report released on Monday.
SGYP has been the topic of several other reports. Rodman & Renshaw reissued a buy rating and set a $15.00 price objective on shares of Synergy Pharmaceuticals in a research note on Tuesday, July 12th. Zacks Investment Research cut Synergy Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, October 12th. HC Wainwright set a $15.00 target price on Synergy Pharmaceuticals and gave the company a buy rating in a research note on Thursday, September 8th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $13.00 target price on shares of Synergy Pharmaceuticals in a research note on Sunday, July 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $9.75.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) traded up 2.34% on Monday, reaching $5.24. The company’s stock had a trading volume of 753,874 shares. Synergy Pharmaceuticals has a one year low of $2.50 and a one year high of $7.15. The firm’s market capitalization is $940.30 million. The firm has a 50-day moving average price of $5.29 and a 200 day moving average price of $4.14.
Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings data 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 anticipate that Synergy Pharmaceuticals will post ($1.03) earnings per share for the current fiscal year.
In related news, major shareholder Paulson & Co. Inc. sold 54,300 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $5.69, for a total value of $308,967.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.60% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in 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 in the last quarter. Nantahala Capital Management LLC bought a new stake in Synergy Pharmaceuticals during the first quarter worth $828,000. Societe Generale bought a new stake in Synergy Pharmaceuticals during the second quarter worth $4,729,000. Bank of Montreal Can bought a new stake in Synergy Pharmaceuticals during the second quarter worth $126,000. Finally, Nisa Investment Advisors LLC bought a new stake in Synergy Pharmaceuticals during the second quarter worth $363,000. Institutional investors own 56.54% of the company’s stock.
About Synergy Pharmaceuticals