Actionable news
0
All posts from Actionable news
Actionable news in SGYP: Synergy Pharmaceuticals, Inc.,

Why This Analyst Sees Synergy Pharma Still Doubling Even After Huge Gains

Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) had an absolutely enormous day on Wednesday. News of its constipation drug study sent shares up 68% to $7.78 on a whopping 64 million shares. 24/7 Wall St. does not ordinarily cover analyst calls on individual small-cap stocks, but a fresh report based on Wednesday’s closing price implies that Synergy shares, even after the monumental gain the prior day, could actually more than double.

Corey Davis and Lidia Liu from Canaccord Genuity already had a Buy rating on this stock. What stands out in the call is that the price target was raised to $19 from $11. If things go the way that Canaccord’s team expects, then investors could still see an implied upside of a whopping 144% or so.

Investors might also want to consider that Synergy’s highest target was the $11.00 target from Canaccord Genuity. Of the five firms that cover Synergy, Canaccord’s note sounds funny: “This thang don’t stank.”

The firm said that Synergy announced best positive top-line results it could have hoped for from the first of its two Phase 3 trials for plecanatide in chronic idiopathic constipation (CIC). They...


More