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SGYP

Synergy Pharmaceuticals

$4.00

0.01 (0.25%)

14:44
05/07/17
05/07
14:44
05/07/17
14:44

Synergy Pharmaceuticals reports presentation of Phase 3 Trulance data

Synergy Pharmaceuticals announced that the company will present new data from an analysis of patients with moderate to very severe bloating at baseline who participated in two Phase 3 studies evaluating TRULANCE for the treatment of adults with chronic idiopathic constipation. These data will be presented at Digestive Disease Week, May 6-9. Over 12 weeks, patients with CIC and moderate, severe or very severe bloating symptoms at baseline and were treated with TRULANCE 3 mg or 6 mg doses achieved a significantly greater efficacy responder rate, the primary endpoint defined by the FDA for regulatory approval in CIC, in this analysis compared to placebo -- 18.8% for 3 mg and 16.3% for 6 mg compared to 9.5% for placebo. Efficacy responders were defined as patients who had at least three complete spontaneous bowel movements in a given week and an increase of at least one CSBM over baseline in the same week for at least nine weeks out of the 12-week treatment period, including at least three of the last four weeks. The symptom of bloating among these patients also showed statistically significant improvements for TRULANCE 3 mg and 6 mg compared to placebo. Improvements in abdominal bloating scores were statistically significant after one week and continued throughout the 12-week treatment period. Discontinuation rates were low across both groups -- 3.6% at 3 mg and 4.5% at 6 mg compared to 2.4% for placebo -- and discontinuations due to diarrhea were infrequent -- 1.0% at 3 mg and 1.6% at 6 mg compared to 0.2% for placebo.

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SGYP Synergy Pharmaceuticals
$4.00

0.01 (0.25%)

02/22/17
WELS
02/22/17
NO CHANGE
WELS
Underperform
Wells thinks 50-plus salespeople just left Valeant for Synergy
Wells Fargo analyst David Maris says he asked Valeant Pharmaceuticals (VRX) whether industry speculation is true regarding the company losing 50-plus gastrointestinal salespeople to Synergy Pharmaceuticals (SGYP) following the latter's recent FDA approval. Valeant indicated that a number of salespeople have left but would not confirm how many, Maris tells investors in a research note. The analyst adds that Synergy would only comment that it has been very successful in hiring a large number of experienced salespeople. The loss of 50-plus salespeople would be another setback to the Salix/gastrointestinal salesforce at a time when prescription trends on Xifaxan are already weak, Maris contends. The analyst also learned that the son of Valeant CEO Joseph Papa joined Valeant in September 2016 as a product manager for Xifaxan, the company's largest product. Maris says Valeant acknowledged that several investors have already raised the matter. Maris has an Underperform rating on the shares, which closed the trading day down 4c to $16.35.
02/24/17
WELS
02/24/17
NO CHANGE
WELS
Wells says new Valeant is not new, calls shares overvalued
The market is underestimating Valeant Pharmaceuticals' "poor" prescription trends, reliance on price, employee turnover, execution risk on product launches, patent expiries including Xifaxan and numerous lawsuits, Wells Fargo analyst David Maris tells investors in a research note titled "Deja Valeant--We See History Repeating Itself." The stock is overvalued, and despite management wanting to talk about the "new Valeant," the company's business trends and pricing-driven model remain "old Valeant," Maris contends. He cut his Q4 earnings per share estimate for the company to $1.48 from $1.48, 2017 estimate to $5.03 from $5.14 and 2018 estimate to $5.45 from $5.91. His Q4 estimate remains well above the consensus of $1.22. Maris points out that since the new management team took over in 2016, Valeant set and then lowered guidance, raised prices on more than 50 products, missed key launch targets, had manufacturing issues and saw prescription declines continue. On the positive front, the company has sold $2.3B of assets, the analyst points out. Maris, who wrote this week that Valeant likely just lost 50-plus salespeople to Synergy Pharmaceuticals (SGYP), keeps an Underperform rating on Valeant with a $10-$13 price target range. The drugmaker closed yesterday at $16.58.
03/21/17
BTIG
03/21/17
NO CHANGE
Target $11
BTIG
Buy
Synergy Pharmaceuticals weakness a buying opportunity, says BTIG
BTIG analyst Timothy Chiang said weakness in Synergy Pharmaceuticals is a buying opportunity. The analyst said investor focus is now on the ramp for Trulance in the US market and he believes management is up to the task of successfully launching Trulance via its hybrid sales model which is expected to target approximately 27,000 high-prescribing physicians. Chiang rates Synergy a Buy with an $11 price target.
04/06/17
SBSH
04/06/17
DOWNGRADE
Target $3.7
SBSH
Sell
Synergy Pharmaceuticals downgraded to Sell from Neutral at Citi
Citi analyst Liav Abraham downgraded Synergy Pharmaceuticals to Sell saying she sees downside over the next two years to both sales and operating income consensus estimates. The analyst believes the Trulance launch is likely to disappoint and that a takeover appears unlikely. Abraham cut her price target for Synergy shares to $3.70 from $6.50 after removing any takeover premium.

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