Synergy Pharmaceuticals (SGYP) Shares Gap Down to $0.37

Synergy Pharmaceuticals Inc (NASDAQ:SGYP)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $0.34, but opened at $0.37. Synergy Pharmaceuticals shares last traded at $0.37, with a volume of 17787 shares traded.

A number of equities analysts have issued reports on the stock. Canaccord Genuity lowered shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. BTIG Research lowered shares of Synergy Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. Zacks Investment Research lowered shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, BidaskClub lowered shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $7.20.

The stock has a market capitalization of $91.77 million, a PE ratio of -0.37 and a beta of 2.32.

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

Large investors have recently bought and sold shares of the company. Mackay Shields LLC increased its holdings in shares of Synergy Pharmaceuticals by 25.9% during the 2nd quarter. Mackay Shields LLC now owns 202,600 shares of the biopharmaceutical company’s stock valued at $352,000 after purchasing an additional 41,641 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of Synergy Pharmaceuticals by 81.7% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 87,170 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 39,189 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Synergy Pharmaceuticals by 2.2% during the 2nd quarter. BlackRock Inc. now owns 21,732,054 shares of the biopharmaceutical company’s stock valued at $37,815,000 after purchasing an additional 464,195 shares in the last quarter. Chicago Equity Partners LLC increased its holdings in shares of Synergy Pharmaceuticals by 153.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 472,535 shares of the biopharmaceutical company’s stock valued at $803,000 after purchasing an additional 286,135 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Synergy Pharmaceuticals by 272.9% during the 2nd quarter. Bank of America Corp DE now owns 243,363 shares of the biopharmaceutical company’s stock valued at $423,000 after purchasing an additional 384,085 shares in the last quarter. 38.61% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Synergy Pharmaceuticals (SGYP) Shares Gap Down to $0.37” was originally posted by WKRB News and is the property of of WKRB News. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.wkrb13.com/2018/12/06/synergy-pharmaceuticals-sgyp-shares-gap-down-to-0-37.html.

Synergy Pharmaceuticals Company Profile (NASDAQ:SGYP)

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.

Featured Story: 52-Week High/Low

Receive News & Ratings for Synergy Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synergy Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply