Synergy Pharmaceuticals Inc (NASDAQ:SGYP) – Oppenheimer issued their FY2022 earnings estimates for shares of Synergy Pharmaceuticals in a report issued on Thursday. Oppenheimer analyst D. Archila anticipates that the biopharmaceutical company will earn $0.33 per share for the year. Oppenheimer has a “Market Perform” rating and a $10.00 price objective on the stock.

A number of other brokerages have also recently issued reports on SGYP. HC Wainwright set a $8.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating and set a $3.25 price objective for the company in a research note on Thursday, November 9th. Citigroup restated a “sell” rating and issued a $2.50 price objective (down previously from $3.20) on shares of Synergy Pharmaceuticals in a research note on Wednesday, September 13th. Canaccord Genuity set a $13.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, November 12th. Finally, CIBC restated a “market perform” rating on shares of Synergy Pharmaceuticals in a research note on Friday. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.38.

Synergy Pharmaceuticals (NASDAQ:SGYP) traded up $0.04 during trading hours on Monday, reaching $2.22. 5,530,000 shares of the company traded hands, compared to its average volume of 6,300,000. The firm has a market cap of $547.59, a PE ratio of -1.91 and a beta of 1.22. Synergy Pharmaceuticals has a 1 year low of $1.68 and a 1 year 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 released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The company had revenue of $5.01 million for the quarter, compared to analyst estimates of $4.53 million. During the same quarter in the previous year, the company earned ($0.22) earnings per share.

In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $2.82, for a total value of $24,675,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Synergy Pharmaceuticals by 46.0% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 194,359 shares of the biopharmaceutical company’s stock worth $562,000 after purchasing an additional 61,200 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Synergy Pharmaceuticals by 42.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,355,681 shares of the biopharmaceutical company’s stock worth $6,831,000 after purchasing an additional 696,911 shares during the last quarter. OxFORD Asset Management LLP grew its holdings in shares of Synergy Pharmaceuticals by 42.5% in the 3rd quarter. OxFORD Asset Management LLP now owns 2,040,297 shares of the biopharmaceutical company’s stock worth $5,784,000 after purchasing an additional 608,402 shares during the last quarter. Family Management Corp grew its holdings in shares of Synergy Pharmaceuticals by 94.0% in the 3rd quarter. Family Management Corp now owns 80,500 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 39,000 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings 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 acquiring an additional 79,500 shares during the last quarter. 60.42% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Synergy Pharmaceuticals (NASDAQ:SGYP)

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