Citigroup May Have Just Lost Faith in Synergy Pharma (NASDAQ:SGYP)


Synergy Pharma (NASDAQ:SGYP) Receives a Downgrade

The old rating for Synergy Pharma (NASDAQ:SGYP) shares of a Buy has been discontinued, as professional analysts at Citigroup cut the current rating for Synergy Pharma (NASDAQ:SGYP) shares to a Neutral.

From a total of 5 analysts covering Synergy Pharmaceuticals (NASDAQ:SGYP) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $20 while the lowest target price is $9.5. The mean of all analyst targets is $14.3 with a 111.86% above today’s ($5.9) stock price. Synergy Pharmaceuticals was the topic of 4 analyst reports since August 25, 2015 according to the firm StockzIntelligence Inc. Roth Capital reinitiated shares on October 29 with “” rating. H.C. Wainwright initiated SGYP stock in a recent report from October 1 with “Buy” rating.

Approximately 509,063 shares of stock traded hands. Synergy Pharmaceuticals Inc (NASDAQ:SGYP) has risen 71.59% since May 15, 2015 and is uptrending. It has outperformed by 75.40% the S&P500.

The overall sentiment of institutions has decreased to 1.26 in Q2 2015. Its down 1.16, from 2.42 in 2015Q2. The ratio dived, as 26 institutions have sold all the shares of Synergy Pharmaceuticals Inc that they owned while 35 funds have taken shares off the table. 29 funds have purchased shares for the first time while 48 added to their positions. These institutions now hold 57.91 million shares or 11.88% more than the 51.76 million shares they owned in 2015Q2.

The Fund Great Point Partners Llc currently is holding shares equating to 2.38% of its total portfolio in Synergy Pharmaceuticals Inc representing a total of 1.14 million shares. Another fund,Dafna Capital Management Llc, is holding a total of 296,563 shares equating to 1.56% of their holdings. Additionally, Ghost Tree Capital Llc has a 600,000 share stake in Synergy Pharmaceuticals Inc which represents 1.43% of their total portfolio. The Fund, Trellus Management Company Llc, based out of New York, has also built up a stake in the stock, which represents a total of 1.27% of their total portfolio. Finally Pura Vida Investments Llc, a fund which is based in the state of New York reported a total holdings of 400,000 shares.

Insider activity is a very important aspect to track on any stock. Going back to September 14, 2015, shareholders of Synergy Pharmaceuticals Inc have witnessed 0 insider buys, and a total of 2 insider sales equating to a net activity of approximately $174,347 . Denoyer Bernard sold 10,000 shares worth approximately $75,000. Joslyn Alan sold 13,754 shares worth approximately $99,347.

Synergy Pharmaceuticals Inc. is a biopharmaceutical firm focused on the development of drugs to treat gastrointestinal (GI), disorders and diseases. The company has a market cap of $688.22 million. The Company’s platform technology is based on the naturally occurring human GI peptide, uroguanylin, a regulator of normal GI physiology. It currently has negative earnings. The Company’s products include plecanatide, SP-333 and FV-100.

According to Zacks Investment Research, “Synergy Pharmaceuticals, Inc. is a biopharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. Its lead drug candidate plecanatide is a guanylyl cyclase C receptor agonist, to treat GI disorders, primarily chronic constipation and constipation-predominant- irritable bowel syndrome. It is also engaged in developing receptor agonist for the treatment of gastrointestinal inflammatory diseases, such as ulcerative colitis. Synergy Pharmaceuticals, Inc. is headquartered in New York, New York.”