Schwab Charles Investment Management Inc. boosted its position in Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 10.5% during the first quarter, Holdings Channel reports. The firm owned 861,062 shares of the biopharmaceutical company’s stock after buying an additional 82,163 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Synergy Pharmaceuticals were worth $4,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SGYP. Amalgamated Bank increased its stake in shares of Synergy Pharmaceuticals by 7.9% in the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 1,758 shares during the period. Principal Financial Group Inc. boosted its position in Synergy Pharmaceuticals by 12.9% in the first quarter. Principal Financial Group Inc. now owns 37,343 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 4,267 shares in the last quarter. Legal & General Group Plc boosted its position in Synergy Pharmaceuticals by 12.2% in the first quarter. Legal & General Group Plc now owns 49,476 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 5,367 shares in the last quarter. Janney Montgomery Scott LLC boosted 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 worth $141,000 after buying an additional 6,500 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Synergy Pharmaceuticals by 34.4% in the first quarter. Stifel Financial Corp now owns 30,289 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 7,750 shares in the last quarter. 67.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Synergy Pharmaceuticals, Inc. (SGYP) traded down 1.70% during midday trading on Tuesday, hitting $2.89. 971,246 shares of the stock were exchanged. The firm has a 50-day moving average price of $4.10 and a 200 day moving average price of $4.59. Synergy Pharmaceuticals, Inc. has a 12-month low of $2.88 and a 12-month high of $7.15. The firm’s market cap is $650.12 million.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its earnings results 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 business had revenue of $2.31 million for the quarter, compared to the consensus estimate of $1.98 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. Analysts predict that Synergy Pharmaceuticals, Inc. will post ($1.05) earnings per share for the current fiscal year.

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A number of research firms have weighed in on SGYP. Oppenheimer Holdings, Inc. set a $9.00 price objective on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, May 10th. BTIG Research restated a “buy” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a research report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Citigroup Inc. restated a “sell” rating and set a $3.70 price objective on shares of Synergy Pharmaceuticals in a research report on Wednesday, June 28th. Finally, 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. Four equities research analysts have rated the stock with a sell rating and eight have given a buy rating to the company. Synergy Pharmaceuticals has a consensus rating of “Hold” and an average price target of $10.07.

In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $3.77, for a total transaction of $99,101.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by insiders.

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.

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

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