Synergy Pharmaceuticals, Inc. (SGYP) PT Lowered to $15.00 at Rodman & Renshaw

Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) had its price objective decreased by Rodman & Renshaw from $18.00 to $15.00 in a research note published on Thursday morning, MarketBeat reports. Rodman & Renshaw currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Synergy Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, July 12th. Cantor Fitzgerald started coverage on Synergy Pharmaceuticals in a research note on Thursday, June 1st. They set an overweight rating and a $11.00 price target for the company. ValuEngine cut Synergy Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. set a $9.00 price target on Synergy Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, May 10th. Finally, HC Wainwright restated a buy rating and set a $18.00 price target on shares of Synergy Pharmaceuticals in a research note on Monday, June 12th. Four investment analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. Synergy Pharmaceuticals currently has a consensus rating of Hold and an average price target of $10.07.

Shares of Synergy Pharmaceuticals (NASDAQ SGYP) traded down 0.168% during midday trading on Thursday, hitting $2.975. 4,417,451 shares of the stock were exchanged. Synergy Pharmaceuticals has a one year low of $2.88 and a one year high of $7.15. The firm has a 50 day moving average of $4.16 and a 200-day moving average of $4.62. The company’s market cap is $669.24 million.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.08. The firm had revenue of $2.31 million during the quarter, compared to analyst estimates of $1.98 million. During the same period in the previous year, the business earned ($0.23) EPS. Equities analysts expect that Synergy Pharmaceuticals will post ($1.05) EPS for the current year.

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In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $3.77, for a total transaction of $99,101.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Swiss National Bank raised its stake in Synergy Pharmaceuticals by 11.7% in the first quarter. Swiss National Bank now owns 324,850 shares of the biopharmaceutical company’s stock valued at $1,514,000 after buying an additional 34,000 shares during the period. Smith Asset Management Group LP purchased a new stake in Synergy Pharmaceuticals during the first quarter valued at $184,000. Pictet Asset Management Ltd. purchased a new stake in Synergy Pharmaceuticals during the first quarter valued at $8,484,000. Bank of New York Mellon Corp raised its stake in Synergy Pharmaceuticals by 11.3% in the first quarter. Bank of New York Mellon Corp now owns 1,235,421 shares of the biopharmaceutical company’s stock valued at $5,757,000 after buying an additional 125,882 shares during the period. Finally, Chicago Equity Partners LLC purchased a new stake in Synergy Pharmaceuticals during the first quarter valued at $206,000. 67.56% of the stock is currently owned by institutional investors.

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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