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SGYP

Synergy Pharmaceuticals

$1.38

0.09 (6.98%)

17:04
10/25/18
10/25
17:04
10/25/18
17:04

Synergy does not believe it will obtain higher offers than those received

Synergy Pharmaceuticals provided a business update. In May 2018, Synergy announced that it was running a strategic review process. As part of this extensive review, the company, assisted by outside strategic and financial advisors, has been exploring multiple options and alternatives to create and enhance shareholder value. The company held in-depth discussions with numerous potential counterparties regarding various strategic alternatives during this process. To date, the offers received to acquire Synergy have been significantly below the company's current market value, and it has been unable to consummate any partnership opportunities. At this time, Synergy does not believe that it will obtain any offers that are significantly higher in value than those received to date. Nevertheless, Synergy remains committed to the continued evaluation of all opportunities to enhance shareholder value, and there is no set timetable for completing this process.

SGYP Synergy Pharmaceuticals
$1.38

0.09 (6.98%)

11/14/17
BTIG
11/14/17
NO CHANGE
Target $7
BTIG
Buy
Synergy Pharmaceuticals price target lowered to $7 from $11 at BTIG
BTIG analyst Timothy Chiang lowered his price target on Synergy Pharmaceuticals to $7, saying the revision reflects the potential risk of need for additional equity funding by late 2018/early 2019. Chiang notes that the company may be able to access $100M early next year as part of its loan agreement with CRG LP, but it must meet market cap and Trulance sales minimum requirements. The analyst keeps his Buy rating on Synergy Pharmaceuticals, saying the company is in position to benefit from increased payer access for Trulance in 2018 and the potential for an expanded treatment indication for IBS-C.
01/05/18
OPCO
01/05/18
DOWNGRADE
OPCO
Perform
Synergy Pharmaceuticals downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Derek Archila downgraded Synergy Pharmaceuticals to Perform citing the "nagging capital overhang." The analyst sees the potential for additional dilutive financing in 2018 saying the company may not be able to qualify for the third and fourth tranches of funding from the CRG deal. Any additional equity offerings may require a meaningful discount to the current stock price, Archila tells investors in a research note.
01/25/18
WELS
01/25/18
NO CHANGE
WELS
Outperform
Ironwood outlook unchanged after Trulance approval, says Wells Fargo
Wells Fargo analyst David Maris said that Synergy Pharmaceuticals (SGYP) received FDA approval for Trulance for the treatment of irritable bowel syndrome with constipation, to add to the drug's existing approval for chronic idiopathic constipation. Ironwood's (IRWD) Linzess was initially approved in 2012 for both IBS-C and CIC, noted Maris, who said he expected Trulance's approval in IBS-C and is not making any changes to his Ironwood model following the news. He believes Trulance was already being used off label in IBS-C to some degree, but will be watching if the new on-label indication impacts market share, he said. Maris keeps an Outperform rating on Ironwood shares.
01/25/18
BTIG
01/25/18
NO CHANGE
Target $7
BTIG
Buy
Synergy funding worries may be overdone, says BTIG
BTIG analyst Timothy Chiang noted that Synergy Pharmaceuticals (SGYP) announced that Trulance received expanded FDA approval for IBS-C, which puts it more on par with market leader Linzess from Ironwood (IRWD) and Allergan (AGN). He sees Trulance benefiting from increased payor access and believes the company will have sufficient cash in order to gain access to a second loan tranche of $100M expected by next month, stating that funding worries may be overdone. Chiang keeps a Buy rating and $7 price target on Synergy shares.

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ATTO

Atento

$3.24

-0.14 (-4.14%)

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ATTO

Atento

$3.24

-0.14 (-4.14%)

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ITCB

Itau Corpbanca

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OCUL

Ocular Therapeutix

$3.36

-0.1 (-2.89%)

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Recommendations
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YGYI

Youngevity

$6.57

0.13 (2.02%)

, QFIN

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VAR

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TOL

Toll Brothers

$37.52

-0.88 (-2.29%)

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TTWO

Take-Two

$102.94

-3.82 (-3.58%)

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AAL

American Airlines

$30.96

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LWAY

Lifeway Foods

$2.75

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Earnings
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WHLR

Wheeler REIT

$2.25

0.025 (1.13%)

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WMT

Walmart

$101.54

0.66 (0.65%)

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QFIN

360 Finance

$16.46

0.71 (4.51%)

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Earnings
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MRK

Merck

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PRIM

Primoris

$20.26

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BK

BNY Mellon

$45.97

-0.11 (-0.24%)

, LM

Legg Mason

$35.68

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DHR

Danaher

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SPX

S&P 500

$0.00

(0.00%)

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$283.95

-2.03 (-0.71%)

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$0.00

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$283.95

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LM

Legg Mason

$35.68

0.295 (0.83%)

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XYF

X Financial

$5.42

0.1 (1.88%)

17:34
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Earnings
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