Oppenheimer Reaffirms “Market Perform” Rating for Synergy Pharmaceuticals (SGYP)

Synergy Pharmaceuticals (NASDAQ:SGYP)‘s stock had its “market perform” rating reiterated by analysts at Oppenheimer in a research note issued on Friday. They presently have a $10.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s price objective would indicate a potential upside of 358.72% from the stock’s current price. Oppenheimer also issued estimates for Synergy Pharmaceuticals’ FY2022 earnings at $0.33 EPS.

A number of other brokerages also recently weighed in on SGYP. HC Wainwright set a $8.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, October 11th. CIBC lowered their price objective on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, September 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of Synergy Pharmaceuticals in a research report on Friday, September 8th. Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating and set a $3.25 price objective for the company in a research report on Thursday, November 9th. Finally, Citigroup reaffirmed a “sell” rating and set a $2.50 price objective (down previously from $3.20) on shares of Synergy Pharmaceuticals in a research report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.38.

Shares of Synergy Pharmaceuticals (SGYP) opened at $2.18 on Friday. The stock has a market cap of $480.42, a PE ratio of -1.88 and a beta of 1.22. The company has a debt-to-equity ratio of -68.13, a current ratio of 4.26 and a quick ratio of 3.88. Synergy Pharmaceuticals has a 12 month low of $1.68 and a 12 month high of $7.15.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.06. The company had revenue of $5.01 million during the quarter, compared to analyst estimates of $4.53 million. During the same quarter last year, the company posted ($0.22) EPS. sell-side analysts forecast that Synergy Pharmaceuticals will post -1.04 earnings per share for the current year.

In other Synergy Pharmaceuticals news, major shareholder Paulson & Co. Inc. sold 8,750,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $2.82, for a total value of $24,675,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in Synergy Pharmaceuticals by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 401,730 shares of the biopharmaceutical company’s stock worth $1,788,000 after purchasing an additional 3,686 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Synergy Pharmaceuticals by 13.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 32,018 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 3,900 shares during the last quarter. Amalgamated Bank grew its position in Synergy Pharmaceuticals by 16.9% in the 2nd quarter. Amalgamated Bank now owns 28,074 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 4,061 shares during the last quarter. Principal Financial Group Inc. grew its position in Synergy Pharmaceuticals by 11.2% in the 2nd quarter. Principal Financial Group Inc. now owns 41,507 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 4,164 shares during the last quarter. Finally, Advisor Group Inc. grew its position in Synergy Pharmaceuticals by 25.2% in the 2nd 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. Hedge funds and other institutional investors own 60.42% of the company’s stock.

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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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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