Equities analysts forecast that Synergy Pharmaceuticals Inc (NASDAQ:SGYP) will announce sales of $12.20 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Synergy Pharmaceuticals’ earnings. The lowest sales estimate is $12.00 million and the highest is $12.39 million. Synergy Pharmaceuticals posted sales of $100,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12,100%. The business is expected to announce its next earnings report on Wednesday, May 9th.
According to Zacks, analysts expect that Synergy Pharmaceuticals will report full year sales of $12.20 million for the current fiscal year, with estimates ranging from $67.00 million to $77.07 million. For the next year, analysts forecast that the business will post sales of $168.63 million per share, with estimates ranging from $107.00 million to $230.25 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Synergy Pharmaceuticals.
Synergy Pharmaceuticals (NASDAQ:SGYP) last announced its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.03. Synergy Pharmaceuticals had a negative net margin of 1,333.76% and a negative return on equity of 652.66%. The company had revenue of $9.40 million during the quarter, compared to analysts’ expectations of $7.12 million. The firm’s revenue was up 840.0% on a year-over-year basis.
Several brokerages have commented on SGYP. Zacks Investment Research cut shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Oppenheimer reiterated a “hold” rating on shares of Synergy Pharmaceuticals in a report on Thursday, March 1st. BidaskClub cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 6th. HC Wainwright set a $7.00 target price on shares of Synergy Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, March 5th. Finally, CIBC reiterated a “market perform” rating on shares of Synergy Pharmaceuticals in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $8.08.
Shares of SGYP stock remained flat at $$1.93 on Thursday. The stock had a trading volume of 2,326,156 shares, compared to its average volume of 6,158,968. Synergy Pharmaceuticals has a 1 year low of $1.68 and a 1 year high of $5.10. The company has a market capitalization of $488.39, a price-to-earnings ratio of -1.91 and a beta of 1.26. The company has a debt-to-equity ratio of -21.05, a current ratio of 4.33 and a quick ratio of 3.88.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its position in shares of Synergy Pharmaceuticals by 0.9% in the second quarter. California State Teachers Retirement System now owns 401,730 shares of the biopharmaceutical company’s stock worth $1,788,000 after purchasing an additional 3,686 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Synergy Pharmaceuticals by 13.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 32,018 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 3,900 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Synergy Pharmaceuticals by 70.3% in the third quarter. Advisor Group Inc. now owns 43,650 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 18,025 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Synergy Pharmaceuticals by 20.7% in the second quarter. The Manufacturers Life Insurance Company now owns 174,647 shares of the biopharmaceutical company’s stock worth $778,000 after purchasing an additional 29,965 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Synergy Pharmaceuticals by 18.2% during the third quarter. Wells Fargo & Company MN now owns 219,676 shares of the biopharmaceutical company’s stock valued at $638,000 after acquiring an additional 33,802 shares in the last quarter. 53.08% of the stock is owned by institutional investors and hedge funds.
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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