Shares of Synergy Pharmaceuticals Inc (NASDAQ:SGYP) have received a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $7.25.
Several research firms have recently commented on SGYP. BidaskClub lowered shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 28th. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Cantor Fitzgerald reiterated a “hold” rating on shares of Synergy Pharmaceuticals in a research report on Sunday, June 24th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Synergy Pharmaceuticals in a research report on Tuesday, August 7th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Synergy Pharmaceuticals by 2.2% during the 2nd quarter. BlackRock Inc. now owns 21,732,054 shares of the biopharmaceutical company’s stock valued at $37,815,000 after purchasing an additional 464,195 shares in the last quarter. Hikari Power Ltd boosted its position in shares of Synergy Pharmaceuticals by 15.0% during the 2nd quarter. Hikari Power Ltd now owns 2,300,000 shares of the biopharmaceutical company’s stock valued at $4,002,000 after purchasing an additional 300,000 shares in the last quarter. CVI Holdings LLC bought a new position in shares of Synergy Pharmaceuticals during the 1st quarter valued at about $3,235,000. Schwab Charles Investment Management Inc. boosted its position in shares of Synergy Pharmaceuticals by 7.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,312,030 shares of the biopharmaceutical company’s stock valued at $2,283,000 after purchasing an additional 88,386 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Synergy Pharmaceuticals by 2,579.3% during the 1st quarter. Millennium Management LLC now owns 504,383 shares of the biopharmaceutical company’s stock valued at $923,000 after purchasing an additional 485,558 shares in the last quarter. Hedge funds and other institutional investors own 39.29% of the company’s stock.
Shares of Synergy Pharmaceuticals stock traded up $0.01 during trading on Wednesday, hitting $1.50. 13,108 shares of the stock were exchanged, compared to its average volume of 3,842,207. The firm has a market capitalization of $421.58 million, a P/E ratio of -1.46 and a beta of 1.23. The company has a debt-to-equity ratio of -1.82, a quick ratio of 2.31 and a current ratio of 2.83. Synergy Pharmaceuticals has a 12 month low of $1.28 and a 12 month high of $3.55.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.03. The firm had revenue of $12.25 million for the quarter, compared to the consensus estimate of $10.20 million. As a group, sell-side analysts forecast that Synergy Pharmaceuticals will post -0.56 earnings per share for the current year.
Synergy Pharmaceuticals Company Profile
Synergy Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat gastrointestinal diseases and disorders. Its lead product is plecanatide, a novel uroguanylin based gastrointestinal platform that is traded under the TRULANCE name for the treatment of chronic idiopathic constipation and irritable bowel syndrome.
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