Oppenheimer Holdings, Inc. Analysts Give Synergy Pharmaceuticals, Inc. (SGYP) a $6.00 Price Target

Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) received a $6.00 price objective from Oppenheimer Holdings, Inc. in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s target price would suggest a potential upside of 79.10% from the company’s previous close. Oppenheimer Holdings also issued estimates for Synergy Pharmaceuticals’ Q1 2018 earnings at ($0.16) EPS and FY2021 earnings at $0.07 EPS.

SGYP has been the topic of several other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. BTIG Research reissued a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. Zacks Investment Research cut Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Citigroup Inc. reissued a “sell” rating and issued a $2.50 price objective (down previously from $3.20) on shares of Synergy Pharmaceuticals in a research report on Wednesday, September 13th. Finally, BidaskClub raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.90.

Shares of Synergy Pharmaceuticals (SGYP) opened at 3.35 on Tuesday. Synergy Pharmaceuticals has a 12-month low of $2.56 and a 12-month high of $7.15. The stock has a 50 day moving average price of $2.93 and a 200 day moving average price of $3.78. The firm’s market cap is $753.60 million.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.08). The company had revenue of $2.31 million during the quarter, compared to the consensus estimate of $1.98 million. During the same quarter last year, the firm posted ($0.23) earnings per share. On average, equities analysts expect that Synergy Pharmaceuticals will post ($1.16) earnings per share for the current year.

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In other 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 legal filing with the SEC, which is accessible through this link. 3.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Synergy Pharmaceuticals during the 2nd quarter valued at $101,000. Amalgamated Bank lifted its position in shares of Synergy Pharmaceuticals by 7.9% during the 1st quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,758 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Synergy Pharmaceuticals by 25.2% during the 2nd quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 5,150 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Synergy Pharmaceuticals during the 2nd quarter valued at $122,000. Finally, Stephens Inc. AR lifted its position in shares of Synergy Pharmaceuticals by 39.0% during the 2nd quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 8,000 shares during the last quarter. 71.47% of the stock is currently owned by hedge funds and other institutional investors.

About Synergy Pharmaceuticals

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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