Synergy Pharmaceuticals, Inc. (SGYP) Position Boosted by American International Group Inc.

American International Group Inc. boosted its position in Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) by 17.9% during the first quarter, Holdings Channel reports. The fund owned 122,974 shares of the biopharmaceutical company’s stock after buying an additional 18,639 shares during the period. American International Group Inc.’s holdings in Synergy Pharmaceuticals were worth $573,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. Tudor Investment Corp Et Al raised its stake in shares of Synergy Pharmaceuticals by 1.3% in the fourth quarter. Tudor Investment Corp Et Al now owns 18,376 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 232 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Synergy Pharmaceuticals by 27.4% in the first quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 6,500 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Synergy Pharmaceuticals by 34.4% in the first quarter. Stifel Financial Corp now owns 30,289 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 7,750 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Synergy Pharmaceuticals by 64.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,618 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 12,780 shares during the last quarter. Finally, Smith Asset Management Group LP purchased a new stake in shares of Synergy Pharmaceuticals during the first quarter worth approximately $184,000. Hedge funds and other institutional investors own 67.39% of the company’s stock.

Synergy Pharmaceuticals, Inc. (SGYP) opened at 4.46 on Monday. Synergy Pharmaceuticals, Inc. has a 52-week low of $3.34 and a 52-week high of $7.15. The stock’s 50 day moving average price is $4.05 and its 200 day moving average price is $4.99. The firm’s market capitalization is $1.00 billion.

Synergy Pharmaceuticals (NASDAQ:SGYP) last issued its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million. On average, equities analysts anticipate that Synergy Pharmaceuticals, Inc. will post ($0.95) earnings per share for the current fiscal year.

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A number of analysts recently commented on the company. Citigroup Inc. reiterated a “sell” rating and issued a $3.70 price objective on shares of Synergy Pharmaceuticals in a research report on Wednesday, June 28th. BTIG Research reiterated a “buy” rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a research report on Tuesday, June 27th. BidaskClub upgraded Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Rodman & Renshaw reiterated a “buy” rating and issued a $18.00 price objective on shares of Synergy Pharmaceuticals in a research report on Wednesday, March 29th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $13.00 price objective on shares of Synergy Pharmaceuticals in a research report on Friday, May 19th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.67.

About Synergy Pharmaceuticals

Synergy Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s product candidates include TRULANCE (plecanatide) and dolcanatide. The Company is engaged in the discovery, research and development efforts around analogs of uroguanylin for the treatment of GI diseases and disorders.

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

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