Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) shares rose 5.9% during mid-day trading on Monday . The stock traded as high as $2.94 and last traded at $3.07. Approximately 8,762,395 shares traded hands during trading, an increase of 96% from the average daily volume of 4,460,110 shares. The stock had previously closed at $2.90.

A number of equities analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective (down previously from $15.00) on shares of Synergy Pharmaceuticals in a research note on Monday, September 25th. They noted that the move was a valuation call. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. Zacks Investment Research lowered Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price target on shares of Synergy Pharmaceuticals in a research report on Monday, July 10th. Finally, BidaskClub cut Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Synergy Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $8.68.

The company’s 50-day moving average is $3.07 and its 200-day moving average is $4.01. The stock’s market capitalization is $731.10 million.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The company had revenue of $2.31 million during the quarter, compared to analysts’ expectations of $1.98 million. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, analysts predict that Synergy Pharmaceuticals, Inc. will post ($1.16) earnings per share for the current year.

In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Synergy Pharmaceuticals during the 2nd quarter worth approximately $101,000. Amalgamated Bank lifted its stake in Synergy Pharmaceuticals by 7.9% in the 1st quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,758 shares in the last quarter. Advisor Group Inc. lifted its stake in Synergy Pharmaceuticals by 25.2% in the 2nd quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 5,150 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Synergy Pharmaceuticals in the 2nd quarter valued at approximately $122,000. Finally, Stephens Inc. AR lifted its stake in Synergy Pharmaceuticals by 39.0% in the 2nd quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 8,000 shares in the last quarter. Institutional investors and hedge funds own 71.47% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Synergy Pharmaceuticals, Inc. (SGYP) Stock Price Up 5.9%” was published by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/synergy-pharmaceuticals-inc-sgyp-stock-price-up-5-9/1603771.html.

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.

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.