Fly News Breaks for September 13, 2017
Sep 13, 2017 | 08:29 EDT
Citi analyst Liav Abraham cut her price target for Synergy Pharmaceuticals to $2.50 and reiterates a Sell rating on the shares. The intellectual property on the company's lead compound, Trulance, expires in 2032, which, in the absence of life-cycle management programs, implies "minimal terminal value of the company over the longer term," Abraham tells investors in a research note. The analyst says that even with the stock's underperformance this year, she still struggles to become more constructive on the name.
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