Synergy Pharmaceuticals (SGYP) PT Set at $7.00 by HC Wainwright

Synergy Pharmaceuticals (NASDAQ:SGYP) received a $7.00 target price from analysts at HC Wainwright in a report issued on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 268.42% from the company’s previous close.

SGYP has been the subject of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. BTIG Research reiterated a “buy” rating and set a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. Citigroup reiterated a “sell” rating and set a $2.50 target price (down previously from $3.20) on shares of Synergy Pharmaceuticals in a research note on Wednesday, September 13th. ValuEngine lowered shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, 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 Sunday, November 12th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.84.

Shares of Synergy Pharmaceuticals (SGYP) opened at $1.90 on Monday. The company has a debt-to-equity ratio of -68.13, a current ratio of 4.26 and a quick ratio of 3.88. Synergy Pharmaceuticals has a twelve month low of $1.68 and a twelve month high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million during the quarter, compared to analyst estimates of $4.53 million. During the same period in the prior year, the company earned ($0.22) earnings per share. research analysts forecast that Synergy Pharmaceuticals will post -1.07 EPS for the current year.

In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $2.82, for a total transaction of $24,675,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SGYP. Dynamic Technology Lab Private Ltd bought a new position in shares of Synergy Pharmaceuticals during the second quarter worth about $101,000. Advisor Group Inc. grew its position in shares of Synergy Pharmaceuticals by 25.2% during the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 5,150 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Synergy Pharmaceuticals during the second quarter worth about $122,000. Amalgamated Bank grew its position in shares of Synergy Pharmaceuticals by 16.9% during the second quarter. Amalgamated Bank now owns 28,074 shares of the biopharmaceutical company’s stock worth $125,000 after acquiring an additional 4,061 shares during the last quarter. Finally, Stephens Inc. AR grew its position in shares of Synergy Pharmaceuticals by 39.0% during the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 60.52% of the company’s stock.

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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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