Synergy Pharmaceuticals (SGYP) Given a $7.00 Price Target by BTIG Research Analysts

BTIG Research set a $7.00 price target on Synergy Pharmaceuticals (NASDAQ:SGYP) in a research note released on Monday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

SGYP has been the topic of a number of other reports. Cantor Fitzgerald reissued a buy rating on shares of Synergy Pharmaceuticals in a report on Thursday, February 1st. Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, February 17th. BidaskClub lowered shares of Synergy Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, February 23rd. HC Wainwright set a $7.00 target price on shares of Synergy Pharmaceuticals and gave the stock a buy rating in a report on Monday, March 5th. Finally, ValuEngine raised shares of Synergy Pharmaceuticals from a strong sell rating to a sell rating in a report on Monday, May 7th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $8.08.

Get Synergy Pharmaceuticals alerts:

Shares of Synergy Pharmaceuticals opened at $1.84 on Monday, Marketbeat Ratings reports. Synergy Pharmaceuticals has a 1 year low of $1.69 and a 1 year high of $1.90. The company has a debt-to-equity ratio of -3.01, a quick ratio of 2.71 and a current ratio of 3.09. The company has a market cap of $466.34 million, a P/E ratio of -1.80 and a beta of 1.22.

Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its earnings results on Thursday, May 10th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. Synergy Pharmaceuticals had a negative net margin of 773.82% and a negative return on equity of 652.66%. The firm had revenue of $8.59 million for the quarter, compared to analyst estimates of $11.18 million. During the same period in the previous year, the firm posted ($0.30) EPS. The company’s revenue for the quarter was up 776.5% compared to the same quarter last year. equities research analysts forecast that Synergy Pharmaceuticals will post -0.57 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its position in shares of Synergy Pharmaceuticals by 7.4% in the 4th quarter. California State Teachers Retirement System now owns 392,004 shares of the biopharmaceutical company’s stock worth $874,000 after purchasing an additional 26,859 shares during the period. Wells Fargo & Company MN lifted its position in shares of Synergy Pharmaceuticals by 18.2% in the 3rd quarter. Wells Fargo & Company MN now owns 219,676 shares of the biopharmaceutical company’s stock worth $638,000 after purchasing an additional 33,802 shares during the period. HBK Sorce Advisory LLC acquired a new position in shares of Synergy Pharmaceuticals in the 4th quarter worth approximately $103,000. Exane Derivatives lifted its position in shares of Synergy Pharmaceuticals by 79.4% in the 4th quarter. Exane Derivatives now owns 107,979 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 47,774 shares during the period. Finally, Sandy Spring Bank acquired a new position in shares of Synergy Pharmaceuticals in the 4th quarter worth approximately $109,000. Hedge funds and other institutional investors own 51.70% of the company’s stock.

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)