Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) has been assigned a $13.00 price objective by analysts at Canaccord Genuity in a note issued to investors on Sunday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price points to a potential upside of 432.79% from the company’s previous close.

SGYP has been the subject of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Citigroup Inc. reaffirmed a “sell” rating and issued a $2.50 target price (down from $3.20) on shares of Synergy Pharmaceuticals in a research note on Wednesday, September 13th. Finally, ValuEngine lowered shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Synergy Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $8.39.

Synergy Pharmaceuticals (SGYP) opened at $2.44 on Friday. Synergy Pharmaceuticals has a fifty-two week low of $2.42 and a fifty-two week high of $7.15. The company has a current ratio of 4.26, a quick ratio of 3.88 and a debt-to-equity ratio of -68.13.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.06. The firm had revenue of $5.01 million during the quarter, compared to analyst estimates of $4.53 million. During the same period last year, the firm earned ($0.22) EPS. sell-side analysts forecast that Synergy Pharmaceuticals will post -1.13 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Synergy Pharmaceuticals, Inc. (SGYP) Given a $13.00 Price Target by Canaccord Genuity Analysts” was reported by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be viewed at https://www.watchlistnews.com/synergy-pharmaceuticals-inc-sgyp-given-a-13-00-price-target-by-canaccord-genuity-analysts/1701330.html.

A number of large investors have recently modified their holdings of the business. OxFORD Asset Management LLP lifted its position in Synergy Pharmaceuticals by 42.5% during the 3rd quarter. OxFORD Asset Management LLP now owns 2,040,297 shares of the biopharmaceutical company’s stock worth $5,784,000 after buying an additional 608,402 shares in the last quarter. Family Management Corp lifted its position in Synergy Pharmaceuticals by 94.0% during the 3rd quarter. Family Management Corp now owns 80,500 shares of the biopharmaceutical company’s stock worth $233,000 after buying an additional 39,000 shares in the last quarter. Brown Advisory Inc. lifted its position in Synergy Pharmaceuticals by 101.3% during the 3rd quarter. Brown Advisory Inc. now owns 158,000 shares of the biopharmaceutical company’s stock worth $458,000 after buying an additional 79,500 shares in the last quarter. Wells Fargo & Company MN lifted its position in Synergy Pharmaceuticals by 18.2% during the 3rd quarter. Wells Fargo & Company MN now owns 219,676 shares of the biopharmaceutical company’s stock worth $638,000 after buying an additional 33,802 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in 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 in the last quarter. 72.10% of the stock is currently owned by hedge funds and other institutional investors.

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)

Receive News & Ratings for Synergy Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synergy Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.