Synergy Pharmaceuticals (SGYP) Shares Up -0.5%
Synergy Pharmaceuticals Inc (NASDAQ:SGYP) shot up 0.5% on Wednesday . The stock traded as high as $2.02 and last traded at $2.01. 2,123,325 shares traded hands during trading, a decline of 73% from the average session volume of 7,834,897 shares. The stock had previously closed at $2.02.
Several research firms recently weighed in on SGYP. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Synergy Pharmaceuticals in a research report on Thursday, February 1st. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Synergy Pharmaceuticals in a research report on Thursday, February 1st. Citigroup cut shares of Synergy Pharmaceuticals to a “market perform” rating in a research report on Friday, January 5th. CIBC reaffirmed a “market perform” rating on shares of Synergy Pharmaceuticals in a research report on Friday, January 5th. Finally, Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $8.28.
The company has a market capitalization of $498.25, a price-to-earnings ratio of -1.74 and a beta of 1.13. The company has a debt-to-equity ratio of -68.13, a current ratio of 4.26 and a quick ratio of 3.88.
In other news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank raised its holdings in Synergy Pharmaceuticals by 13.5% in the 4th quarter. Swiss National Bank now owns 421,650 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 50,000 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Synergy Pharmaceuticals by 354.8% in the 4th quarter. Teacher Retirement System of Texas now owns 83,552 shares of the biopharmaceutical company’s stock valued at $186,000 after buying an additional 65,182 shares during the last quarter. Sandy Spring Bank bought a new position in Synergy Pharmaceuticals in the 4th quarter valued at approximately $109,000. Granite Investment Partners LLC bought a new position in Synergy Pharmaceuticals in the 4th quarter valued at approximately $632,000. Finally, Malaga Cove Capital LLC raised its holdings in Synergy Pharmaceuticals by 1,115.8% in the 4th quarter. Malaga Cove Capital LLC now owns 97,266 shares of the biopharmaceutical company’s stock valued at $217,000 after buying an additional 89,266 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Synergy Pharmaceuticals (SGYP) Shares Up -0.5%” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.watchlistnews.com/synergy-pharmaceuticals-sgyp-shares-up-0-5/1851516.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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synergy Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.