Synergy Pharmaceuticals, Inc. (SGYP) PT Set at $8.00 by HC Wainwright

Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) has been given a $8.00 target price by analysts at HC Wainwright in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 140.96% from the company’s current price.

Several other research firms also recently commented on SGYP. BTIG Research reaffirmed a “buy” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, June 27th. BidaskClub raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Zacks Investment Research raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Canaccord Genuity reaffirmed a “buy” rating and issued a $13.00 target price on shares of Synergy Pharmaceuticals in a research report on Monday, July 10th. Finally, Citigroup Inc. reaffirmed a “sell” rating and issued a $3.70 target price on shares of Synergy Pharmaceuticals in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.90.

Shares of Synergy Pharmaceuticals (NASDAQ SGYP) traded down 3.92% during mid-day trading on Wednesday, reaching $3.19. The company had a trading volume of 2,086,107 shares. Synergy Pharmaceuticals has a 12 month low of $2.56 and a 12 month high of $7.15. The company’s market capitalization is $717.60 million. The firm’s 50-day moving average is $2.94 and its 200 day moving average is $3.77.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The firm 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 earned ($0.23) earnings per share. On average, equities research analysts predict that Synergy Pharmaceuticals will post ($1.16) earnings per share for the current year.

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In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $3.77, for a total value of $99,101.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.80% of the company’s stock.

Several hedge funds have recently modified their holdings of SGYP. Dynamic Technology Lab Private Ltd bought a new stake in shares of Synergy Pharmaceuticals in the second quarter valued at approximately $101,000. Amalgamated Bank boosted its stake in shares of Synergy Pharmaceuticals by 7.9% in the first 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 period. Advisor Group Inc. boosted its stake in shares of Synergy Pharmaceuticals by 25.2% in the second 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 period. Captrust Financial Advisors bought a new stake in shares of Synergy Pharmaceuticals in the second quarter valued at approximately $122,000. Finally, Stephens Inc. AR boosted its stake in shares of Synergy Pharmaceuticals by 39.0% in the second 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 period. Institutional investors and hedge funds own 71.47% of the company’s stock.

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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