Synergy Pharmaceuticals’ (NASDAQ:SGYP) Sell Rating Reiterated at Citigroup Inc.

Citigroup Inc. reaffirmed their sell rating on shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) in a research note issued to investors on Wednesday, June 28th. Citigroup Inc. currently has a $3.70 price target on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on SGYP. HC Wainwright set a $18.00 price objective on Synergy Pharmaceuticals and gave the company a buy rating in a report on Thursday, March 16th. BTIG Research reissued a buy rating and issued a $11.00 price objective on shares of Synergy Pharmaceuticals in a report on Saturday, April 22nd. Canaccord Genuity reissued a buy rating and issued a $13.00 price objective on shares of Synergy Pharmaceuticals in a report on Friday, May 19th. Zacks Investment Research downgraded Synergy Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, May 3rd. Finally, ValuEngine downgraded Synergy Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $10.67.

Shares of Synergy Pharmaceuticals (SGYP) opened at 4.35 on Wednesday. The firm’s market capitalization is $978.53 million. Synergy Pharmaceuticals has a 1-year low of $3.34 and a 1-year high of $7.15. The company has a 50-day moving average of $4.05 and a 200-day moving average of $4.99.

Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its quarterly earnings results 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 company had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.10 million. Equities research analysts predict that Synergy Pharmaceuticals will post ($0.95) EPS for the current fiscal year.

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Several large investors have recently modified their holdings of the company. Tudor Investment Corp Et Al increased 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 valued at $112,000 after buying an additional 232 shares in the last quarter. Amalgamated Bank increased its stake in shares of Synergy Pharmaceuticals by 7.9% in the first quarter. Amalgamated Bank now owns 24,013 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 1,758 shares in the last quarter. Ellington Management Group LLC boosted its position in Synergy Pharmaceuticals by 65.0% in the fourth quarter. Ellington Management Group LLC now owns 19,300 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 7,600 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Synergy Pharmaceuticals by 27.4% in the first quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 6,500 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in Synergy Pharmaceuticals by 34.4% in the first quarter. Stifel Financial Corp now owns 30,289 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 7,750 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Synergy Pharmaceuticals (NASDAQ:SGYP)

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