Synergy Pharmaceuticals Inc. (SGYP) PT Raised to $17.00 at Rodman & Renshaw
Posted by Daniel Jordon on Dec 27th, 2016 // No Comments
Synergy Pharmaceuticals logoSynergy Pharmaceuticals Inc. (NASDAQ:SGYP) had its target price hoisted by equities research analysts at Rodman & Renshaw from $16.00 to $17.00 in a report issued on Friday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Rodman & Renshaw’s price target would indicate a potential upside of 194.63% from the stock’s current price.
Several other analysts also recently commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Friday. Roth Capital reaffirmed a “buy” rating and issued a $6.50 price objective on shares of Synergy Pharmaceuticals in a report on Thursday, December 15th. HC Wainwright set a $16.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Monday, December 12th. Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, December 13th. Finally, Canaccord Genuity set a $13.00 price objective on shares of Synergy Pharmaceuticals and gave the company a “buy” rating in a report on Friday, December 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $10.36.
Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)
Shares of Synergy Pharmaceuticals (NASDAQ:SGYP) opened at 5.77 on Friday. The company’s market capitalization is $1.04 billion. The firm has a 50-day moving average of $5.21 and a 200-day moving average of $4.77. Synergy Pharmaceuticals has a one year low of $2.50 and a one year high of $6.29.
In related news, major shareholder Paulson & Co. Inc. sold 140,000 shares of the stock in a transaction on Friday, November 4th. The shares were sold at an average price of $4.24, for a total transaction of $593,600.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SGYP. Teacher Retirement System of Texas increased its stake in shares of Synergy Pharmaceuticals by 29.2% in the third quarter. Teacher Retirement System of Texas now owns 19,485 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 4,404 shares during the period. Legal & General Group Plc increased its stake in shares of Synergy Pharmaceuticals by 60.0% in the second quarter. Legal & General Group Plc now owns 29,343 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 11,001 shares during the period. Principal Financial Group Inc. increased its stake in shares of Synergy Pharmaceuticals by 82.4% in the second quarter. Principal Financial Group Inc. now owns 31,927 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 14,422 shares during the period. Aperio Group LLC increased its stake in shares of Synergy Pharmaceuticals by 48.0% in the third quarter. Aperio Group LLC now owns 22,346 shares of the biopharmaceutical company’s stock worth $123,000 after buying an additional 7,249 shares during the period. Finally, Clinton Group Inc. purchased a new stake in shares of Synergy Pharmaceuticals during the third quarter worth about $125,000. 55.21% of the stock is currently owned by hedge funds and other institutional investors.
About Synergy Pharmaceuticals
Synergy Pharmaceuticals Inc (Synergy) is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease.
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