Synergy Pharmaceuticals (SGYP) Shares Up 0%

Synergy Pharmaceuticals Inc (NASDAQ:SGYP)’s share price shot up 0% on Wednesday . The company traded as high as $2.08 and last traded at $2.06. 4,501,164 shares were traded during mid-day trading, a decline of 6% from the average session volume of 4,768,325 shares. The stock had previously closed at $2.06.

Several research firms recently commented on SGYP. HC Wainwright set a $7.00 target price on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, June 6th. ValuEngine upgraded Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. BTIG Research set a $7.00 target price on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, May 14th. Oppenheimer reiterated a “hold” rating on shares of Synergy Pharmaceuticals in a research note on Sunday, May 13th. Finally, Zacks Investment Research lowered Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.08.

The company has a market cap of $446.60 million, a P/E ratio of -2.02 and a beta of 1.23. The company has a quick ratio of 2.71, a current ratio of 3.09 and a debt-to-equity ratio of -3.01.



Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. Synergy Pharmaceuticals had a negative return on equity of 652.66% and a negative net margin of 773.82%. The firm had revenue of $8.59 million during the quarter, compared to analyst estimates of $11.18 million. During the same period in the prior year, the firm posted ($0.30) earnings per share. The business’s quarterly revenue was up 776.5% compared to the same quarter last year. research analysts expect that Synergy Pharmaceuticals Inc will post -0.59 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. HBK Sorce Advisory LLC purchased a new stake in Synergy Pharmaceuticals during the fourth quarter valued at about $103,000. MetLife Investment Advisors LLC purchased a new stake in Synergy Pharmaceuticals during the fourth quarter valued at about $124,000. Teacher Retirement System of Texas grew its position in Synergy Pharmaceuticals by 354.8% during the fourth quarter. Teacher Retirement System of Texas now owns 83,552 shares of the biopharmaceutical company’s stock valued at $186,000 after acquiring an additional 65,182 shares during the period. Mackay Shields LLC purchased a new stake in Synergy Pharmaceuticals during the first quarter valued at about $295,000. Finally, Virtu Financial LLC grew its position in Synergy Pharmaceuticals by 500.3% during the fourth quarter. Virtu Financial LLC now owns 173,704 shares of the biopharmaceutical company’s stock valued at $387,000 after acquiring an additional 144,768 shares during the period. 44.26% of the stock is owned by hedge funds and other institutional investors.

About Synergy Pharmaceuticals

Synergy Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat gastrointestinal diseases and disorders. Its lead product is plecanatide, a novel uroguanylin based gastrointestinal platform that is traded under the TRULANCE name for the treatment of chronic idiopathic constipation and irritable bowel syndrome.

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