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Analysts Speculate on Three Biotech Stocks: Synergy Pharmaceuticals Inc (SGYP), Relypsa Inc (RLYP), Incyte Corporation (INCY)

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Analysts came out today with an optimistic view on Synergy Pharmaceuticals Inc (NASDAQ:SGYP), Relypsa Inc (NASDAQ:RLYP), and Incyte Corporation (NASDAQ:INCY), as the iShares Nasdaq Biotechnology ETF (IBB) tried to recover recent losses with gains of nearly one percent today.

Synergy Pharmaceuticals Inc

Rodman & Renshaw analyst Ram Selvaraju reiterated a Buy rating on shares of Synergy Pharmaceuticals Inc, with a price target of $20, after competitor Ironwood Pharmaceuticals reported positive data from a Phase 3 trial of its marketed drug Linzess® (linaclotide) in chronic idiopathic constipation.

Selvaraju noted, “In the wake of the results of this study, while we acknowledge the potential improvement in competitive positioning for linaclotide vs. plecanatide, we remain positive regarding plecanatide’s prospects in CIC and constipationpredominant irritable bowel syndrome (IBS-C) and therefore reiterate our Buy rating.”

“We remind investors that one of the key competitive advantages for Synergy’s lead candidate, plecanatide, is reduced incidence and severity of diarrhea as a side effect. If low-dose linaclotide were to enter the market with clearly improved safety and equivalent efficacy to the currently-approved doses of linaclotide, the degree of differentiation between linaclotide and plecanatide may be reduced. However, we note that plecanatide remains the direct analog of the naturally-occurring human peptide, uroguanylin, and that Ironwood’s drug has not been directly compared to plecanatide in head-to-head...


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