Bank of America Corp DE Purchases 384,085 Shares of Synergy Pharmaceuticals Inc (SGYP)

Bank of America Corp DE boosted its position in Synergy Pharmaceuticals Inc (NASDAQ:SGYP) by 272.9% during the 2nd quarter, Holdings Channel reports. The fund owned 243,363 shares of the biopharmaceutical company’s stock after buying an additional 384,085 shares during the quarter. Bank of America Corp DE’s holdings in Synergy Pharmaceuticals were worth $423,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Synergy Pharmaceuticals by 2.2% in the second quarter. BlackRock Inc. now owns 21,732,054 shares of the biopharmaceutical company’s stock valued at $37,815,000 after buying an additional 464,195 shares during the period. Hikari Power Ltd lifted its stake in Synergy Pharmaceuticals by 15.0% in the second quarter. Hikari Power Ltd now owns 2,300,000 shares of the biopharmaceutical company’s stock valued at $4,002,000 after buying an additional 300,000 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Synergy Pharmaceuticals by 7.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,312,030 shares of the biopharmaceutical company’s stock valued at $2,283,000 after buying an additional 88,386 shares during the period. Millennium Management LLC lifted its stake in Synergy Pharmaceuticals by 2,579.3% in the first quarter. Millennium Management LLC now owns 504,383 shares of the biopharmaceutical company’s stock valued at $923,000 after buying an additional 485,558 shares during the period. Finally, Mackay Shields LLC lifted its stake in Synergy Pharmaceuticals by 25.9% in the second quarter. Mackay Shields LLC now owns 202,600 shares of the biopharmaceutical company’s stock valued at $352,000 after buying an additional 41,641 shares during the period. Institutional investors and hedge funds own 39.60% of the company’s stock.

Several equities analysts have weighed in on SGYP shares. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Synergy Pharmaceuticals in a research note on Tuesday, August 7th. Zacks Investment Research raised Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, August 14th. Canaccord Genuity lowered Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. BTIG Research lowered Synergy Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Friday, October 26th. Finally, BidaskClub raised Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.20.

NASDAQ SGYP opened at $0.41 on Friday. The stock has a market cap of $99.12 million, a PE ratio of -0.40 and a beta of 2.38. Synergy Pharmaceuticals Inc has a one year low of $0.35 and a one year high of $2.80.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). The firm had revenue of $11.11 million during the quarter, compared to the consensus estimate of $15.65 million. Research analysts forecast that Synergy Pharmaceuticals Inc will post -0.54 EPS for the current year.

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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.

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Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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