Perceptive Advisors LLC Buys 487,800 Shares of Synergy Pharmaceuticals, Inc. (SGYP)

Perceptive Advisors LLC boosted its position in shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 99.5% during the first quarter, Holdings Channel reports. The fund owned 978,100 shares of the biopharmaceutical company’s stock after buying an additional 487,800 shares during the period. Perceptive Advisors LLC’s holdings in Synergy Pharmaceuticals were worth $4,558,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Synergy Pharmaceuticals during the fourth quarter worth about $1,162,000. State Street Corp boosted its position in Synergy Pharmaceuticals by 11.6% in the fourth quarter. State Street Corp now owns 6,283,669 shares of the biopharmaceutical company’s stock worth $38,270,000 after buying an additional 653,353 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in 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 worth $199,000 after buying an additional 12,780 shares during the last quarter. Orbimed Advisors LLC boosted its position in Synergy Pharmaceuticals by 205.2% in the fourth quarter. Orbimed Advisors LLC now owns 18,241,398 shares of the biopharmaceutical company’s stock worth $111,090,000 after buying an additional 12,264,750 shares during the last quarter. Finally, Tudor Investment Corp Et Al boosted its position in 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 during the last quarter. Hedge funds and other institutional investors own 67.58% of the company’s stock.

Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

Shares of Synergy Pharmaceuticals, Inc. (NASDAQ SGYP) traded down 0.49% during trading on Friday, hitting $4.07. 4,824,193 shares of the company traded hands. The company has a 50 day moving average price of $3.95 and a 200 day moving average price of $5.06. Synergy Pharmaceuticals, Inc. has a 52 week low of $3.34 and a 52 week high of $7.15. The company’s market capitalization is $915.54 million.

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

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SGYP has been the topic of a number of analyst reports. Guggenheim restated an “outperform” rating and issued a $10.00 price objective on shares of Synergy Pharmaceuticals in a research report on Thursday, March 2nd. Canaccord Genuity set a $13.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, March 2nd. Oppenheimer Holdings, Inc. set a $10.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, March 2nd. Rodman & Renshaw restated a “buy” rating and issued a $18.00 price objective on shares of Synergy Pharmaceuticals in a research report on Friday, March 3rd. Finally, HC Wainwright set a $18.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, March 16th. Three research analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $11.44.

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.

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