Synergy Pharmaceuticals, Inc. (SGYP) Given a $6.00 Price Target at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. set a $6.00 price target on Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the biopharmaceutical company’s stock. Oppenheimer Holdings also issued estimates for Synergy Pharmaceuticals’ Q1 2018 earnings at ($0.16) EPS and FY2021 earnings at $0.07 EPS.

SGYP has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an overweight rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. BTIG Research reaffirmed a buy rating and issued a $11.00 target price on shares of Synergy Pharmaceuticals in a report on Friday, September 8th. Zacks Investment Research cut Synergy Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, July 18th. Citigroup Inc. reaffirmed a sell rating and issued a $2.50 target price (down previously from $3.20) on shares of Synergy Pharmaceuticals in a report on Wednesday, September 13th. Finally, BidaskClub raised Synergy Pharmaceuticals from a sell rating to a hold rating in a report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $8.90.

Shares of Synergy Pharmaceuticals (NASDAQ SGYP) opened at 3.35 on Tuesday. The firm’s market capitalization is $753.60 million. Synergy Pharmaceuticals has a 52 week low of $2.56 and a 52 week high of $7.15. The stock has a 50 day moving average price of $2.93 and a 200-day moving average price of $3.78.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.08). The business had revenue of $2.31 million during the quarter, compared to analyst estimates of $1.98 million. During the same period in the previous year, the firm posted ($0.23) earnings per share. On average, equities research analysts forecast that Synergy Pharmaceuticals will post ($1.16) earnings per share for the current year.

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In other news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $3.77, for a total value of $99,101.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synergy Pharmaceuticals in the second quarter valued at about $101,000. Amalgamated Bank increased its stake 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 valued at $112,000 after buying an additional 1,758 shares during the period. Advisor Group Inc. increased its stake in shares of Synergy Pharmaceuticals by 25.2% in the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 5,150 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Synergy Pharmaceuticals in the second quarter valued at about $122,000. Finally, Stephens Inc. AR increased its stake in shares of Synergy Pharmaceuticals by 39.0% in the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 8,000 shares during the period. 71.47% of the stock is owned by 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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