BTIG Research reiterated their buy rating on shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) in a research note issued to investors on Tuesday morning. BTIG Research currently has a $7.00 price objective on the biopharmaceutical company’s stock.

SGYP has been the topic of several other reports. Zacks Investment Research downgraded Synergy Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, July 18th. Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $9.00 target price on shares of Synergy Pharmaceuticals in a report on Tuesday, July 18th. BidaskClub downgraded Synergy Pharmaceuticals from a hold rating to a sell rating in a report on Friday, July 28th. Canaccord Genuity set a $13.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Monday, July 31st. Finally, Cantor Fitzgerald restated a buy rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Synergy Pharmaceuticals currently has an average rating of Hold and an average target price of $8.02.

Shares of Synergy Pharmaceuticals (NASDAQ SGYP) traded down $0.05 on Tuesday, reaching $1.95. The company had a trading volume of 4,328,927 shares, compared to its average volume of 5,929,285. Synergy Pharmaceuticals has a 1 year low of $1.68 and a 1 year high of $7.15. The company has a quick ratio of 3.88, a current ratio of 4.26 and a debt-to-equity ratio of -68.13.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.06. The business had revenue of $5.01 million during the quarter, compared to analysts’ expectations of $4.53 million. During the same period in the prior year, the company posted ($0.22) EPS. research analysts anticipate that Synergy Pharmaceuticals will post -1.06 EPS for the current year.

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In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $2.82, for a total transaction of $24,675,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Synergy Pharmaceuticals by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 17,422,326 shares of the biopharmaceutical company’s stock valued at $77,530,000 after acquiring an additional 1,636,563 shares during the last quarter. State Street Corp boosted its stake in shares of Synergy Pharmaceuticals by 2.4% during the 2nd quarter. State Street Corp now owns 12,933,104 shares of the biopharmaceutical company’s stock worth $57,552,000 after buying an additional 306,989 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Synergy Pharmaceuticals by 71.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,405,377 shares of the biopharmaceutical company’s stock worth $8,820,000 after buying an additional 1,417,177 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Synergy Pharmaceuticals by 15.3% during the 2nd quarter. Northern Trust Corp now owns 2,804,768 shares of the biopharmaceutical company’s stock worth $12,481,000 after buying an additional 372,683 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in shares of Synergy Pharmaceuticals by 30.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,611,536 shares of the biopharmaceutical company’s stock worth $7,574,000 after buying an additional 615,025 shares during the last quarter. Institutional investors own 72.10% of the company’s stock.

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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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