Synergy Pharmaceuticals (SGYP) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in Synergy Pharmaceuticals (NASDAQ:SGYP) by 64.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,030 shares of the biopharmaceutical company’s stock after selling 435,300 shares during the period. Alliancebernstein L.P. owned about 0.10% of Synergy Pharmaceuticals worth $533,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Synergy Pharmaceuticals by 18.2% during the 3rd quarter. Wells Fargo & Company MN now owns 219,676 shares of the biopharmaceutical company’s stock worth $638,000 after acquiring an additional 33,802 shares during the period. BlackRock Inc. grew its holdings in shares of Synergy Pharmaceuticals by 8.7% during the 4th quarter. BlackRock Inc. now owns 21,998,125 shares of the biopharmaceutical company’s stock worth $49,056,000 after acquiring an additional 1,761,725 shares during the period. Swiss National Bank grew its holdings in shares of Synergy Pharmaceuticals by 13.5% during the 4th quarter. Swiss National Bank now owns 421,650 shares of the biopharmaceutical company’s stock worth $940,000 after acquiring an additional 50,000 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Synergy Pharmaceuticals by 71.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,405,377 shares of the biopharmaceutical company’s stock worth $8,820,000 after acquiring an additional 1,417,177 shares during the period. Finally, Malaga Cove Capital LLC grew its holdings in shares of Synergy Pharmaceuticals by 1,115.8% during the 4th quarter. Malaga Cove Capital LLC now owns 97,266 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 89,266 shares during the period. Institutional investors own 53.05% of the company’s stock.

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SGYP has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Synergy Pharmaceuticals in a report on Thursday, February 1st. Oppenheimer downgraded Synergy Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. BidaskClub upgraded Synergy Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 14th. Cantor Fitzgerald reiterated a “buy” rating and set a $10.00 target price on shares of Synergy Pharmaceuticals in a report on Thursday, January 25th. Finally, Zacks Investment Research upgraded Synergy Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.08.

SGYP stock opened at $1.74 on Tuesday. Synergy Pharmaceuticals has a 12-month low of $1.68 and a 12-month high of $4.84. The company has a debt-to-equity ratio of -21.05, a quick ratio of 3.88 and a current ratio of 4.33.

Synergy Pharmaceuticals (NASDAQ:SGYP) last released its quarterly earnings data on Thursday, March 1st. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.03. The business had revenue of $9.40 million for the quarter, compared to analysts’ expectations of $7.12 million. Synergy Pharmaceuticals had a negative return on equity of 652.66% and a negative net margin of 1,333.76%. Synergy Pharmaceuticals’s revenue for the quarter was up 840.0% compared to the same quarter last year. research analysts anticipate that Synergy Pharmaceuticals will post -0.53 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Synergy Pharmaceuticals (NASDAQ:SGYP)

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