Brokerages expect Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) to report earnings per share (EPS) of ($0.22) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Synergy Pharmaceuticals’ earnings. Synergy Pharmaceuticals reported earnings per share of ($0.23) in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The business is scheduled to report its next quarterly earnings results on Monday, August 14th.
On average, analysts expect that Synergy Pharmaceuticals will report full-year earnings of ($0.72) per share for the current financial year, with EPS estimates ranging from ($0.90) to ($0.47). For the next fiscal year, analysts expect that the company will report earnings of ($0.14) per share, with EPS estimates ranging from ($0.50) to $0.07. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Synergy Pharmaceuticals.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.10 million.
A number of research analysts recently commented on SGYP shares. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, March 28th. Rodman & Renshaw reaffirmed a “buy” rating and issued a $18.00 price target on shares of Synergy Pharmaceuticals in a research note on Wednesday, March 29th. Citigroup Inc. downgraded Synergy Pharmaceuticals from a “neutral” rating to a “sell” rating in a research note on Thursday, April 6th. BTIG Research reaffirmed a “buy” rating and issued a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Tuesday, April 11th. Finally, Zacks Investment Research downgraded Synergy Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Synergy Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $10.67.
Synergy Pharmaceuticals (NASDAQ:SGYP) traded down 0.70% during midday trading on Thursday, hitting $4.25. 1,627,085 shares of the stock traded hands. The stock’s market capitalization is $956.03 million. Synergy Pharmaceuticals has a 12-month low of $3.34 and a 12-month high of $7.15. The firm’s 50 day moving average is $4.31 and its 200-day moving average is $4.86.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGYP. State Street Corp boosted its position in Synergy Pharmaceuticals by 11.6% in the fourth quarter. State Street Corp now owns 6,283,669 shares of the biopharmaceutical company’s stock worth $38,270,000 after buying an additional 653,353 shares in the last quarter. Alambic Investment Management L.P. acquired a new position in Synergy Pharmaceuticals during the first quarter worth about $612,000. Tudor Investment Corp Et Al boosted its position in 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 in the last quarter. Russell Investments Group Ltd. acquired a new position in Synergy Pharmaceuticals during the fourth quarter worth about $1,162,000. Finally, EAM Investors LLC acquired a new position in Synergy Pharmaceuticals during the first quarter worth about $2,797,000. Hedge funds and other institutional investors own 67.42% of the company’s stock.
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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