Synergy Pharmaceuticals, Inc. (SGYP) Given a $8.00 Price Target by HC Wainwright Analysts

HC Wainwright set a $8.00 target price on Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) in a report published on Wednesday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on SGYP. Rodman & Renshaw dropped their price target on Synergy Pharmaceuticals from $18.00 to $15.00 and set a buy rating for the company in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. dropped their price target on Synergy Pharmaceuticals from $9.00 to $6.00 and set an outperform rating for the company in a research report on Friday, September 8th. Canaccord Genuity set a $13.00 price target on Synergy Pharmaceuticals and gave the stock a buy rating in a research report on Monday, July 31st. BidaskClub downgraded Synergy Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, July 28th. Finally, CIBC dropped their price target on Synergy Pharmaceuticals from $9.00 to $6.00 and set an outperform rating for the company in a research report on Friday, September 8th. Three analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $8.90.

Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) traded down 2.1636% during mid-day trading on Wednesday, hitting $3.1699. The stock had a trading volume of 2,213,881 shares. The stock has a 50 day moving average price of $2.94 and a 200-day moving average price of $3.78. The company’s market cap is $713.08 million. Synergy Pharmaceuticals has a 52-week low of $2.56 and a 52-week high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.08). The company had revenue of $2.31 million during the quarter, compared to analysts’ expectations of $1.98 million. During the same period in the prior year, the firm earned ($0.23) earnings per share. On average, equities analysts expect that Synergy Pharmaceuticals will post ($1.16) earnings per share for the current fiscal year.

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In other news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $3.77, for a total transaction of $99,101.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.80% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of SGYP. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synergy Pharmaceuticals during the second quarter worth $101,000. Amalgamated Bank boosted its holdings in shares of Synergy Pharmaceuticals by 7.9% during the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 1,758 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Synergy Pharmaceuticals by 25.2% during the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 5,150 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of Synergy Pharmaceuticals during the second quarter worth $122,000. Finally, Stephens Inc. AR boosted its holdings in shares of Synergy Pharmaceuticals by 39.0% during the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 71.47% of the company’s stock.

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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