BTIG Research Reiterates “Buy” Rating for Synergy Pharmaceuticals Inc. (SGYP)
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research note issued to investors on Friday. They currently have a $11.00 price target on the biopharmaceutical company’s stock. BTIG Research’s target price indicates a potential upside of 97.84% from the company’s previous close.
Other analysts have also recently issued reports about the company. Rodman & Renshaw restated a “buy” rating and issued a $15.00 price objective on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, May 23rd. HC Wainwright set a $15.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, September 8th. Roth Capital reiterated a “buy” rating and set a $6.50 price target on shares of Synergy Pharmaceuticals in a research report on Thursday, May 26th. Finally, Zacks Investment Research cut Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $9.75.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.56 on Friday. Synergy Pharmaceuticals has a 1-year low of $2.50 and a 1-year high of $7.15. The firm has a 50-day moving average price of $4.88 and a 200-day moving average price of $3.81. The stock’s market cap is $997.72 million.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. Equities analysts forecast that Synergy Pharmaceuticals will post ($1.05) EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Synergy Pharmaceuticals by 60.0% in the second quarter. Legal & General Group Plc now owns 29,343 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 11,001 shares during the period. Principal Financial Group Inc. raised its position in Synergy Pharmaceuticals by 82.4% in the second quarter. Principal Financial Group Inc. now owns 31,927 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 14,422 shares during the period. Bank of Montreal Can bought a new position in Synergy Pharmaceuticals during the second quarter worth $126,000. State Treasurer State of Michigan bought a new position in Synergy Pharmaceuticals during the second quarter worth $152,000. Finally, Cheyne Capital Management UK LLP bought a new position in Synergy Pharmaceuticals during the second quarter worth $250,000. 56.67% of the stock is currently owned by institutional investors.
Synergy Pharmaceuticals Company Profile
Synergy Pharmaceuticals Inc (Synergy) is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease.
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