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Analysts Bullish on Synergy Pharmaceuticals Inc. (SGYP) and Zogenix, Inc. (ZGNX) Following Earnings

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Analysts weigh in with a few insights on biopharmaceutical companies Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) and Zogenix, Inc. (NASDAQ:ZGNX), following the release of their quarterly results this week.

Synergy Pharmaceuticals Inc.

Roth Capital analyst Michael Higgins reiterated a Buy rating on Synergy Pharma after the company reported financials that were in-line with consensus and ahead of his own estimates. For 3Q15, Synergy reported a net loss of $26 million and a loss per share of ($0.23). At the end of the quarter, cash and equivalents stood at $142 million.

Looking forward, Higgins will be watching for “plecanatide’s NDA filing in chronic idiopathic constipation (CIC), Ph3 data in IBS-C, open label data in CIC, confirmatory Ph3 data in IBS-C and plecanatide’s PDUFA in CIC, respectively.” Plecanatide is an analog of uroguanylin; a naturally occurring human gastrointestinal peptide that plays an important role in regulating healthy digestive activity. Plecanatide has already completed two phase 3 clinical trials for CIC. It is presently being evaluated in two phase 3 clinical trials for irritable bowel syndrome with constipation (IBS-C). At this stage of development of plecanatide, Higgins believes Synergy faces moderate clinical risk as compared to competitive treatments, namely Linzess (from Ironwood) and Amitzia...


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