Synergy Pharmaceuticals Inc fka SGYPQ

[traderinvestor]

SGYP Buy Rating w/Price Target of $15.00.

Rodman & Renshaw Reiterate Buy On Synergy Pharma Following Plecanatide Phase 3 Report http://www.benzinga.com/analyst-ratings/analyst-color/16/05/8017134/rodman-renshaw-reiterate-buy-on-synergy-pharma-following#ixzz4A4wZEwp0
Andrew Efimoff, Benzinga Staff Writer
May 23, 2016 9:33 am

Rodman & Renshaw's Raghuram Selvaraju reiterated his Buy position on Synergy Pharmaceuticals Inc SGYP with a price target of $15.00. The rating reiteration comes after further Plecanatide Phase 3 data was reported, showing positive results.

The new data "emphasizes what we view as the drug's strong likelihood of approval early next year," said Selvaraju. Due to further "top-line data release from two ongoing Phase 3 trials of plecanatide" later this year, the analyst believed the price is likely to rise from $3.26 to $15.00 over the next twelve months.