Synergy Pharmaceuticals (SGYP) Rating Reiterated by Cantor Fitzgerald

Synergy Pharmaceuticals (NASDAQ:SGYP)‘s stock had its “buy” rating reiterated by Cantor Fitzgerald in a note issued to investors on Tuesday, November 21st. They currently have a $10.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 443.48% from the company’s current price.

A number of other equities analysts have also commented on the stock. Oppenheimer lowered their price target on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, September 8th. ValuEngine lowered shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. BTIG Research reiterated a “buy” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. Canaccord Genuity set a $13.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, November 12th. Finally, Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Synergy Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $7.84.

Synergy Pharmaceuticals (SGYP) opened at $1.84 on Tuesday. Synergy Pharmaceuticals has a 1 year low of $1.68 and a 1 year high of $7.15. The company has a debt-to-equity ratio of -68.13, a quick ratio of 3.88 and a current ratio of 4.26.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.06. The business had revenue of $5.01 million for the quarter, compared to the consensus estimate of $4.53 million. During the same period in the prior year, the business posted ($0.22) earnings per share. equities analysts expect that Synergy Pharmaceuticals will post -1.04 EPS for the current year.

In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $2.82, for a total value of $24,675,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. raised its holdings in Synergy Pharmaceuticals by 47.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 78,636 shares of the biopharmaceutical company’s stock worth $366,000 after purchasing an additional 25,300 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Synergy Pharmaceuticals by 12.9% during the 1st quarter. Principal Financial Group Inc. now owns 37,343 shares of the biopharmaceutical company’s stock worth $174,000 after purchasing an additional 4,267 shares during the last quarter. Teachers Advisors LLC raised its holdings in Synergy Pharmaceuticals by 12.9% during the 1st quarter. Teachers Advisors LLC now owns 337,439 shares of the biopharmaceutical company’s stock worth $1,572,000 after purchasing an additional 38,658 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Synergy Pharmaceuticals by 15.7% during the 1st quarter. TIAA CREF Investment Management LLC now owns 838,046 shares of the biopharmaceutical company’s stock worth $3,905,000 after purchasing an additional 113,591 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Synergy Pharmaceuticals by 12.2% during the 1st quarter. Legal & General Group Plc now owns 49,476 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 5,367 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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