Legal & General Group Plc increased its stake in shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,476 shares of the biopharmaceutical company’s stock after buying an additional 5,367 shares during the period. Legal & General Group Plc’s holdings in Synergy Pharmaceuticals were worth $231,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Teachers Advisors LLC increased its position in Synergy Pharmaceuticals by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 298,781 shares of the biopharmaceutical company’s stock valued at $1,820,000 after buying an additional 11,521 shares during the last quarter. Nationwide Fund Advisors increased its position in Synergy Pharmaceuticals by 9.1% in the first quarter. Nationwide Fund Advisors now owns 301,829 shares of the biopharmaceutical company’s stock valued at $1,407,000 after buying an additional 25,113 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in Synergy Pharmaceuticals by 32.5% in the first quarter. Clear Harbor Asset Management LLC now owns 295,060 shares of the biopharmaceutical company’s stock valued at $1,375,000 after buying an additional 72,300 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Synergy Pharmaceuticals by 27.4% in the first quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 6,500 shares during the last quarter. Finally, Hikari Power Ltd bought a new position in Synergy Pharmaceuticals during the first quarter valued at about $699,000. 67.46% of the stock is currently owned by institutional investors and hedge funds.

Synergy Pharmaceuticals, Inc. (SGYP) traded up 0.8958% during trading on Friday, hitting $3.0975. 2,934,855 shares of the stock traded hands. The company’s 50 day moving average price is $4.20 and its 200-day moving average price is $4.64. The stock’s market cap is $696.80 million. Synergy Pharmaceuticals, Inc. has a 52-week low of $2.91 and a 52-week high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.08. The company had revenue of $2.31 million for the quarter, compared to analyst estimates of $1.98 million. During the same quarter in the previous year, the company earned ($0.23) EPS. Equities research analysts forecast that Synergy Pharmaceuticals, Inc. will post ($1.05) earnings per share for the current fiscal year.

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Several equities analysts have issued reports on SGYP shares. BTIG Research reaffirmed a “buy” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Saturday, April 22nd. Zacks Investment Research downgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. set a $9.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, May 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price objective on shares of Synergy Pharmaceuticals in a report on Friday, May 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Synergy Pharmaceuticals in a report on Friday, May 19th. Four research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.07.

In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $3.77, for a total value of $99,101.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.80% of the stock is owned by insiders.

Synergy Pharmaceuticals Company Profile

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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Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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