Shares of Synergy Pharmaceuticals Inc (NASDAQ:SGYP) have been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $10.50.
A number of analysts have recently commented on SGYP shares. Zacks Investment Research raised Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research note on Wednesday, February 28th. Oppenheimer reaffirmed a “hold” rating on shares of Synergy Pharmaceuticals in a research note on Thursday, March 1st. HC Wainwright set a $7.00 price target on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, March 5th. ValuEngine raised Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, May 7th. Finally, BTIG Research set a $7.00 price target on Synergy Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, May 14th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. HBK Sorce Advisory LLC bought a new stake in Synergy Pharmaceuticals during the 4th quarter worth approximately $103,000. MetLife Investment Advisors LLC acquired a new position in Synergy Pharmaceuticals during the 4th quarter worth approximately $124,000. Teacher Retirement System of Texas boosted its position in Synergy Pharmaceuticals by 354.8% during the 4th quarter. Teacher Retirement System of Texas now owns 83,552 shares of the biopharmaceutical company’s stock worth $186,000 after acquiring an additional 65,182 shares during the last quarter. Mackay Shields LLC acquired a new position in Synergy Pharmaceuticals during the 1st quarter worth approximately $295,000. Finally, Virtu Financial LLC boosted its position in Synergy Pharmaceuticals by 500.3% during the 4th quarter. Virtu Financial LLC now owns 173,704 shares of the biopharmaceutical company’s stock worth $387,000 after acquiring an additional 144,768 shares during the last quarter. 44.26% of the stock is owned by institutional investors and hedge funds.
Shares of SGYP stock traded down $0.09 on Monday, reaching $1.80. The company had a trading volume of 3,177,454 shares, compared to its average volume of 4,735,342. The company has a debt-to-equity ratio of -3.01, a current ratio of 3.09 and a quick ratio of 2.71. The stock has a market cap of $466.34 million, a PE ratio of -1.76 and a beta of 1.23. Synergy Pharmaceuticals has a 12 month low of $1.42 and a 12 month high of $4.84.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $8.59 million during the quarter, compared to analysts’ expectations of $11.18 million. Synergy Pharmaceuticals had a negative return on equity of 652.66% and a negative net margin of 773.82%. Synergy Pharmaceuticals’s revenue was up 776.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.30) EPS. research analysts anticipate that Synergy Pharmaceuticals will post -0.59 earnings per share for the current year.
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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