Synergy Pharmaceuticals (SGYP) Issues Earnings Results
Synergy Pharmaceuticals (NASDAQ:SGYP) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01), MarketWatch Earnings reports. The business had revenue of $11.11 million for the quarter, compared to the consensus estimate of $15.65 million.
SGYP stock traded down $0.09 during midday trading on Friday, hitting $0.36. The stock had a trading volume of 9,599,730 shares, compared to its average volume of 7,622,059. The stock has a market capitalization of $114.13 million, a P/E ratio of -0.35 and a beta of 2.38. Synergy Pharmaceuticals has a 12-month low of $0.35 and a 12-month high of $3.10.
SGYP has been the subject of a number of research analyst reports. BTIG Research cut shares of Synergy Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. Zacks Investment Research cut shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Canaccord Genuity cut shares of Synergy Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. BidaskClub cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 12th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Synergy Pharmaceuticals in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.17.
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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.
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