Shares of Synergy Pharmaceuticals Inc (NASDAQ:SGYP) have earned an average rating of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $7.25.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, August 14th. BidaskClub upgraded shares of Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, August 7th. Cantor Fitzgerald restated a “hold” rating on shares of Synergy Pharmaceuticals in a research note on Sunday, June 24th. Finally, ValuEngine upgraded shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd.
SGYP traded up $0.01 during midday trading on Tuesday, reaching $1.83. The company had a trading volume of 1,496,797 shares, compared to its average volume of 4,146,757. The company has a quick ratio of 2.31, a current ratio of 2.83 and a debt-to-equity ratio of -1.82. The stock has a market cap of $433.98 million, a price-to-earnings ratio of -1.79 and a beta of 1.13. Synergy Pharmaceuticals has a 12-month low of $1.42 and a 12-month high of $3.57.
Synergy Pharmaceuticals (NASDAQ:SGYP) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.03. The firm had revenue of $12.25 million for the quarter, compared to analysts’ expectations of $10.20 million. Synergy Pharmaceuticals had a negative net margin of 430.21% and a negative return on equity of 652.66%. sell-side analysts anticipate that Synergy Pharmaceuticals will post -0.57 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new stake in shares of Synergy Pharmaceuticals during the 4th quarter valued at approximately $124,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Synergy Pharmaceuticals by 81.7% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 87,170 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 39,189 shares in the last quarter. Mackay Shields LLC purchased a new stake in shares of Synergy Pharmaceuticals during the 1st quarter valued at approximately $295,000. Chicago Equity Partners LLC purchased a new stake in shares of Synergy Pharmaceuticals during the 2nd quarter valued at approximately $324,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Synergy Pharmaceuticals during the 1st quarter valued at approximately $417,000. Institutional investors own 44.32% of the company’s stock.
About Synergy Pharmaceuticals
Synergy Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat gastrointestinal diseases and disorders. Its lead product is plecanatide, a novel uroguanylin based gastrointestinal platform that is traded under the TRULANCE name for the treatment of chronic idiopathic constipation and irritable bowel syndrome.
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