Synergy Pharmaceuticals (SGYP) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Synergy Pharmaceuticals (NASDAQ:SGYP) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01), MarketWatch Earnings reports. The firm had revenue of $11.11 million for the quarter, compared to analysts’ expectations of $15.65 million.

NASDAQ:SGYP traded down $0.09 during trading hours on Friday, reaching $0.36. The company’s stock had a trading volume of 9,599,730 shares, compared to its average volume of 7,622,059. The stock has a market cap of $114.13 million, a PE ratio of -0.35 and a beta of 2.38. Synergy Pharmaceuticals has a 1 year low of $0.35 and a 1 year high of $3.10.

SGYP has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Synergy Pharmaceuticals in a research report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a research report on Tuesday, August 14th. BidaskClub cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 12th. Canaccord Genuity cut shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Finally, BTIG Research cut shares of Synergy Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Synergy Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $8.17.

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Synergy Pharmaceuticals Company Profile

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.

See Also: Cost of Debt

Earnings History for Synergy Pharmaceuticals (NASDAQ:SGYP)

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