Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 32,194,265 shares, an increase of 17.6% from the January 13th total of 27,377,279 shares. Currently, 18.8% of the shares of the company are sold short. Based on an average daily volume of 9,363,337 shares, the days-to-cover ratio is presently 3.4 days.
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 6.17 on Friday. Synergy Pharmaceuticals has a one year low of $2.50 and a one year high of $7.15. The stock’s market capitalization is $1.11 billion. The stock’s 50 day moving average price is $6.28 and its 200 day moving average price is $5.35.
Several research analysts have recently issued reports on SGYP shares. BTIG Research reissued a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, December 6th. Zacks Investment Research raised Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, December 13th. Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, December 9th. HC Wainwright set a $16.00 price target on Synergy Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, December 12th. Finally, Rodman & Renshaw increased their price target on Synergy Pharmaceuticals from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, January 20th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Synergy Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $10.88.
Several institutional investors have recently bought and sold shares of SGYP. Teacher Retirement System of Texas increased its position in Synergy Pharmaceuticals by 29.2% in the third quarter. Teacher Retirement System of Texas now owns 19,485 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 4,404 shares during the period. Aperio Group LLC increased its position in shares of Synergy Pharmaceuticals by 48.0% in the third quarter. Aperio Group LLC now owns 22,346 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 7,249 shares during the last quarter. Legal & General Group Plc increased its position in shares of Synergy Pharmaceuticals by 60.0% in the second quarter. Legal & General Group Plc now owns 29,343 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 11,001 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Synergy Pharmaceuticals by 64.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,618 shares of the biopharmaceutical company’s stock valued at $199,000 after buying an additional 12,780 shares during the last quarter. Finally, DIAM Co. Ltd. acquired a new position in shares of Synergy Pharmaceuticals during the third quarter valued at about $208,000. Institutional investors and hedge funds own 55.53% of the company’s stock.
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Synergy Pharmaceuticals Company Profile
Synergy Pharmaceuticals Inc (Synergy) is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease.
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