Today The Rodman & Renshaw Boosts Synergy Pharmaceuticals, Inc. (SGYP) Price Target to $18.00

Today The Rodman & Renshaw Boosts Synergy Pharmaceuticals, Inc. (SGYP) Price Target to $18.00

Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) had its target price lifted by Rodman & Renshaw from $17.00 to $18.00 in a research note released on Friday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on the stock. Canaccord Genuity set a $13.00 target price on shares of Synergy Pharmaceuticals and gave the company a buy rating in a research note on Friday, December 9th. Zacks Investment Research downgraded shares of Synergy Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, October 12th. HC Wainwright set a $16.00 price target on shares of Synergy Pharmaceuticals and gave the company a buy rating in a research report on Monday, December 12th. Roth Capital restated a buy rating and issued a $6.50 price target on shares of Synergy Pharmaceuticals in a research report on Thursday, December 15th. Finally, BTIG Research restated a positive rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, October 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $11.19.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.59 on Friday. Synergy Pharmaceuticals has a 12 month low of $2.50 and a 12 month high of $6.97. The company’s 50-day moving average is $5.82 and its 200-day moving average is $5.15. The stock’s market capitalization is $1.01 billion.

In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 140,000 shares of the stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $4.24, for a total value of $593,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas raised its position in shares of Synergy Pharmaceuticals by 29.2% in the third quarter. Teacher Retirement System of Texas now owns 19,485 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 4,404 shares during the period. Legal & General Group Plc raised its position in shares of Synergy Pharmaceuticals by 60.0% in the second quarter. Legal & General Group Plc now owns 29,343 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 11,001 shares during the period. Principal Financial Group Inc. raised its position in shares of Synergy Pharmaceuticals by 82.4% in the second quarter. Principal Financial Group Inc. now owns 31,927 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 14,422 shares during the period. Aperio Group LLC raised its position in shares of Synergy Pharmaceuticals by 48.0% in the third quarter. Aperio Group LLC now owns 22,346 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 7,249 shares during the period. Finally, Clinton Group Inc. acquired a new position in shares of Synergy Pharmaceuticals during the third quarter valued at approximately $125,000. Institutional investors own 55.20% of the company’s stock.

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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