Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) has been downgraded by Oppenheimer on January 05 which now rates the stock as Perform compared with Outperform rating suggested in the past. Analysts at H.C. Wainwright, maintained the company shares at Buy on September 25 but switched target price from $15 to $8. Brokerage firm Citigroup, looks cautious as they stick to prior recommendation of Sell, in a call on September 13. However, they did change the target price from $3.20 to $2.50.
Synergy Pharmaceuticals Inc. (SGYP) hit an intraday high Friday at $0.23. The shares finished at $0.2, after trading as low as $0.195 earlier in the session. It dropped -14.48% in recent trade and currently has a stock-market value of $56.91M. Trading activity significantly weakened as the volume at ready counter decreased to 8,031,711 shares versus 23,686,816 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 26,125,977 shares. The stock is now 185.71% above against its bear-market low of $0.07 on December 26, 2018. It has retreated -1300% since it’s 52-week high of $2.8 reached in January. Now the market price is down -91.45% on the year and up 72.7% YTD.
SGYP’s 50 day simple moving average (SMA 50) price is $0.29 and its 200-day simple moving average (SMA 200) price is $1.35. The company’s stock currently has a total float of 244.83M shares. Its weekly volatility is hovering around 16.01% and felt 35.65% volatility in price over a month. On the upside, the share price will test short term resistance at around $0.22. On a downside, the stock is likely to find some support, which begins at $0.18. The failure to get near-term support could push it to $0.17.
Separately, it has been reported that multiple insider activity took place at Synergy Pharmaceuticals Inc. (SGYP). 10% Owner Paulson & Co. Inc. sold 8,750,000 shares for $15,312,368 in transaction occurred on 2017/11/10. After making this transaction, the 10% Owner owns a direct stake of 24,675,000 shares, worth $3,062,474, as per the last closing price. On 2017/08/07 Paulson & Co. Inc., 10% Owner at SGYP, dumped 26,287 shares at an average price of $3.77 per share. The selling total is valued at $4,812,474.
CEO, Jacob Gary S had invested in 5,680 shares for $402,679 through a trade on 2017/05/26. Following this activity, the insider holds 19,994 shares worth $80,536 as of recent close. Wall Street’s most bullish Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) analysts are predicting the share price to blow past $2 per share during the next 12 months. The current median share price forecast by them is $2, suggesting that the stock could increase 900% in that time frame. The average price target of $2 calls for a nearly 900% increase in the stock price.
SGYP’s ROE is 267.8%, which is also considerably better than the industry’s ROE of -2.18%. It’s also not liquid in the near term, with a current ratio of 0.5. The stock has a debt/capital of 0.
Shares of Synergy Pharmaceuticals Inc. (SGYP) have dropped -55.6% since the recent earnings report. Over the past 12 fiscal quarters, Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) has topped consensus earnings estimates in 4 quarters (33%), missed earnings in 7 quarters (58%), whereas at 1 occasion EPS met analyst expectations. SGYP last reported earnings on November 08, 2018 when it released Sep-18 results that receded expectations. The company raked in -$0.14 per share, -94.02% change on the same period last year. That was worse than consensus for -$0.14. Revenue for the recent quarter stood at $11.1 million, up 122% on last year and below the $13.21 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $90.79 million to $90.79 million, which should be compared with $216.59 million generated last year. EPS is seen in a range of $15.91 to $2.1.