BTIG Research Reaffirms “Buy” Rating for Synergy Pharmaceuticals, Inc. (SGYP)

Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP)‘s stock had its “buy” rating reaffirmed by BTIG Research in a research note issued on Tuesday. They currently have a $11.00 target price on the biopharmaceutical company’s stock. BTIG Research’s price objective indicates a potential upside of 137.58% from the company’s previous close.

Other research analysts have also issued reports about the company. Rodman & Renshaw reissued a “buy” rating and set a $18.00 target price on shares of Synergy Pharmaceuticals in a report on Tuesday, May 23rd. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, May 19th. Canaccord Genuity reissued a “buy” rating and set a $13.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, May 19th. Finally, Oppenheimer Holdings, Inc. set a $9.00 target price on Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $11.44.

Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 4.63 on Tuesday. Synergy Pharmaceuticals has a 52-week low of $3.34 and a 52-week high of $7.15. The stock’s 50 day moving average is $3.94 and its 200 day moving average is $5.03. The company’s market cap is $1.04 billion.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.07. The company had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million. On average, analysts predict that Synergy Pharmaceuticals will post ($0.93) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tudor Investment Corp Et Al raised its position in shares of Synergy Pharmaceuticals by 1.3% in the fourth quarter. Tudor Investment Corp Et Al now owns 18,376 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 232 shares in the last quarter. Ellington Management Group LLC raised its position in shares of Synergy Pharmaceuticals by 65.0% in the fourth quarter. Ellington Management Group LLC now owns 19,300 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 7,600 shares in the last quarter. Amalgamated Bank raised its position in shares of Synergy Pharmaceuticals by 7.9% in the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 1,758 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Synergy Pharmaceuticals by 27.4% in the first quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 6,500 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Synergy Pharmaceuticals by 34.4% in the first quarter. Stifel Financial Corp now owns 30,289 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 7,750 shares in the last quarter. 67.39% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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