-$0.26 Earnings Per Share Expected for Synergy Pharmaceuticals, Inc. (SGYP) This Quarter
Wall Street brokerages predict that Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP) will report earnings of ($0.26) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Synergy Pharmaceuticals’ earnings, with estimates ranging from ($0.29) to ($0.24). Synergy Pharmaceuticals posted earnings of ($0.22) per share in the same quarter last year, which suggests a negative year over year growth rate of 18.2%. The firm is expected to report its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Synergy Pharmaceuticals will report full year earnings of ($1.00) per share for the current financial year, with EPS estimates ranging from ($1.20) to ($0.47). For the next fiscal year, analysts expect that the business will report earnings of ($0.40) per share, with EPS estimates ranging from ($0.71) to $0.02. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Synergy Pharmaceuticals.
Synergy Pharmaceuticals (NASDAQ:SGYP) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.08). The company had revenue of $2.31 million for the quarter, compared to analysts’ expectations of $1.98 million. During the same quarter in the previous year, the firm earned ($0.23) EPS.
Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. Oppenheimer Holdings, Inc. decreased their price target on shares of Synergy Pharmaceuticals from $9.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, September 8th. ValuEngine cut shares of Synergy Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. BTIG Research reaffirmed a “buy” rating and set a $11.00 price target on shares of Synergy Pharmaceuticals in a research note on Friday, September 8th. Finally, Zacks Investment Research raised shares of Synergy Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Synergy Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $8.68.
Synergy Pharmaceuticals (SGYP) traded up 6.50% during trading on Wednesday, reaching $3.44. 8,113,746 shares of the company were exchanged. The stock has a 50 day moving average price of $2.86 and a 200 day moving average price of $3.83. Synergy Pharmaceuticals has a 12 month low of $2.56 and a 12 month high of $7.15. The firm’s market capitalization is $773.84 million.
In related news, major shareholder Paulson & Co. Inc. sold 26,287 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $3.77, for a total value of $99,101.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.80% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SGYP. Dynamic Technology Lab Private Ltd purchased a new position in Synergy Pharmaceuticals in the second quarter valued at approximately $101,000. Amalgamated Bank raised its holdings in 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 during the period. Advisor Group Inc. raised its holdings in Synergy Pharmaceuticals by 25.2% in the second quarter. Advisor Group Inc. now owns 25,625 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 5,150 shares during the period. Captrust Financial Advisors purchased a new position in Synergy Pharmaceuticals in the second quarter valued at approximately $122,000. Finally, Stephens Inc. AR raised its holdings in Synergy Pharmaceuticals by 39.0% in the second quarter. Stephens Inc. AR now owns 28,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 8,000 shares during the period. 71.47% of the stock is currently owned by institutional investors and hedge funds.
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Synergy Pharmaceuticals Company Profile
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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