Synergy Pharmaceuticals Inc (NASDAQ:SGYP)’s share price rose 5.6% during trading on Thursday . The company traded as high as $1.73 and last traded at $1.71. Approximately 2,253,484 shares changed hands during trading, a decline of 52% from the average daily volume of 4,709,677 shares. The stock had previously closed at $1.62.
SGYP has been the subject of a number of research analyst reports. Oppenheimer restated a “hold” rating on shares of Synergy Pharmaceuticals in a report on Thursday, March 22nd. Zacks Investment Research upgraded Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Wednesday, February 28th. HC Wainwright set a $7.00 target price on Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Monday, March 5th. Finally, ValuEngine upgraded Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.08.
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 $436.73 million, a PE ratio of -1.68 and a beta of 1.23.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $8.59 million for the quarter, compared to analyst estimates 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 for the quarter was up 776.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) EPS. research analysts predict that Synergy Pharmaceuticals Inc will post -0.59 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of SGYP. Schwab Charles Investment Management Inc. raised its position in shares of Synergy Pharmaceuticals by 11.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,051,408 shares of the biopharmaceutical company’s stock worth $2,345,000 after acquiring an additional 106,222 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of 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 in the last quarter. Swiss National Bank raised its position in shares of Synergy Pharmaceuticals by 13.5% during the 4th quarter. Swiss National Bank now owns 421,650 shares of the biopharmaceutical company’s stock worth $940,000 after acquiring an additional 50,000 shares in the last quarter. BlackRock Inc. raised its position in shares of Synergy Pharmaceuticals by 8.7% during the 4th quarter. BlackRock Inc. now owns 21,998,125 shares of the biopharmaceutical company’s stock worth $49,056,000 after acquiring an additional 1,761,725 shares in the last quarter. Finally, Virtu Financial LLC raised its position in shares of 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 in the last quarter. 44.26% of the stock is currently owned by institutional investors.
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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