Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) – Research analysts at Oppenheimer Holdings issued their Q2 2018 earnings per share estimates for shares of Synergy Pharmaceuticals in a research report issued to clients and investors on Monday. Oppenheimer Holdings analyst D. Archila expects that the biopharmaceutical company will post earnings of ($0.17) per share for the quarter. Oppenheimer Holdings has a “Buy” rating and a $6.00 price target on the stock. Oppenheimer Holdings also issued estimates for Synergy Pharmaceuticals’ Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.15) EPS, FY2018 earnings at ($0.64) EPS, FY2019 earnings at ($0.46) EPS and FY2020 earnings at ($0.22) EPS.
Other equities research analysts have also recently issued reports about the stock. Rodman & Renshaw dropped their price target on shares of Synergy Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Canaccord Genuity set a $13.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, July 31st. BidaskClub cut shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. HC Wainwright set a $15.00 price target on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, CIBC dropped their price target on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, September 8th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.90.
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Synergy Pharmaceuticals (NASDAQ:SGYP) traded down 4.82% during midday trading on Thursday, reaching $3.16. 2,663,269 shares of the company’s stock traded hands. The firm’s 50-day moving average is $2.94 and its 200-day moving average is $3.77. The company’s market capitalization is $710.85 million. Synergy Pharmaceuticals has a 1-year low of $2.56 and a 1-year high of $7.15.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The business had revenue of $2.31 million for the quarter, compared to the consensus estimate of $1.98 million. During the same period last year, the business posted ($0.23) earnings per share.
In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of Synergy Pharmaceuticals stock in a transaction that occurred on Monday, August 7th. The shares were 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 is available at the SEC website. Insiders own 3.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of Synergy Pharmaceuticals in the second quarter valued at approximately $101,000. Amalgamated Bank grew its holdings 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 purchasing an additional 1,758 shares in the last quarter. Advisor Group Inc. grew its holdings 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 purchasing an additional 5,150 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Synergy Pharmaceuticals in the second quarter valued at approximately $122,000. Finally, Stephens Inc. AR grew its holdings 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 purchasing an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 71.47% of the company’s stock.
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.
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