Company Shares of Synergy Pharmaceuticals Drops by -8.06%

Synergy Pharmaceuticals (NASDAQ:SGYP) has tumbled 8.06% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 11.96% in the last four weeks. The stocks have underperformed the S&P 500 by 6.96% during the past week but Synergy Pharmaceuticals (NASDAQ:SGYP) it has outperformed the index in 4 weeks by 10.94%.

Synergy Pharmaceuticals (NASDAQ:SGYP): The stock opened at $3.69 on Friday but the bulls could not build on the opening and the stock topped out at $3.75 for the day. The stock traded down to $3.57 during the day, due to lack of any buying support eventually closed down at $3.65 with a loss of -1.08% for the day. The stock had closed at $3.69 on the previous day. The total traded volume was 8,534,566 shares.

The company shares have dropped -55.86% from its 1 Year high price. On Jul 7, 2015, the shares registered one year high at $10.15 and the one year low was seen on Mar 23, 2016. The 50-Day Moving Average price is $3.39 and the 200 Day Moving Average price is recorded at $3.88.

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Denoyer Bernard, officer (Senior Vice President, Finance) of Synergy Pharmaceuticals, Inc., had unloaded 10,000 shares at an average price of $7.5 in a transaction dated on September 14, 2015. The total value of the transaction was worth $75,000.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Rodman & Renshaw, maintains their rating on the shares of Synergy Pharmaceuticals (NASDAQ:SGYP). Rodman & Renshaw has a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $15 per share from a prior target of $16. The rating by the firm was issued on May 9, 2016. Currently the company Insiders own 3.6% of Synergy Pharmaceuticals shares according to the proxy statements. Institutional Investors own 35.72% of Synergy Pharmaceuticals shares.

Synergy Pharmaceuticals Inc. (Synergy) is a biopharmaceutical company focused on the development of drugs to treat gastrointestinal (GI), disorders and diseases. The Companys platform technology is based on the naturally occurring human GI peptide, uroguanylin, a regulator of normal GI physiology. The Companys products include plecanatide, SP-333 and FV-100. The Companys lead product is plecanatide, a guanylate cyclase C (GC-C), receptor agonist, designed to treat GI disorders, primarily chronic idiopathic constipation (CIC), and constipation predominant irritable bowel syndrome (IBS-C). The Company is developing a second-generation GC-C receptor agonist, SP-333, for the treatment of opioid induced constipation (OIC), and for inflammatory bowel disease (IBD). FV-100 is an orally available nucleoside analog. The Companys subsidiaries include Synergy Advanced Pharmaceuticals, Inc., IgX, Ltd and ContraVir Pharmaceuticals, Inc.

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