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Monday, 06/05/2017 9:10:41 AM

Monday, June 05, 2017 9:10:41 AM

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Today's Research Reports on Stocks to Watch: Synergy Pharmaceuticals

AccesswireJune 5, 2017

NEW YORK, NY / ACCESSWIRE / June 5, 2017 / Synergy Pharmaceuticals had a pretty great day this past Friday after it was found out that Cantor Fitzgerald put a price target on the company that is roughly 200% higher than current levels. Traders were enthusiastic about the firm's rating. .

RDI Initiates Coverage on:

Synergy Pharmaceuticals Inc.
https://ub.rdinvesting.com/news/?ticker=SGYP

Synergy Pharmaceuticals Inc. shares closed up 10.19% on Friday on volume tremendously higher than usual. So why the big move and all the attention?

Cantor Fitzgerald has started coverage on the company that focuses on gastrointestinal medicine. The firm has put an "overweight" rating on the company and attached an $11 price target. At this price, the upside potential is around 200%, so no wonder traders were celebrating.

According to Cantor analyst William Tanner, the FDA approval of Trulance, a once-daily tablet approved for adults with CIC (chronic idiopathic constipation) and is being evaluated for IBS-C (irritable bowel syndrome with constipation), positions the company well to bring an important new therapy to the market.

Trulance has the potential to treat gastrointestinal disorders such as CIC. Tanner has a yearly average return of 6.3% and a 49% success rate according to Tipsrank.com. BTIG Research has also said that Trulance prescriptions are north of 800 per week already, and at a pace like this may deliver on full-year forecasts for around $21 million in revenue for the tablet.

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