Shares of Synergy Pharmaceuticals (SGYP) are spiking 9% higher Thursday morning. The gains are related to news the U.S. developer of drugs for gastrointestinal disorders is exploring a potential sale. The spike comes on a big volume too with the issue currently trading more than 2.2 million shares, which dwarfs the average volume of 1.2 million shares.
During today’s trading session, SGYP opened significantly higher and kept printing higher highs for the first 60 minutes of trading, before settling into an intraday range of $3.75 to $4.40 with its 52-week range being $2.45 to $5.88.
Fundamentally, SGYP shows the following financial data:
- $196.37 million in cash in most recent quarter
- $213.34 million t-12 total assets
- ($5.16) million total equity
- ($95.71) million annual net income
- $89.1 million free cash flow
On valuation measures, Synergy Pharmaceuticals Inc. shares have a T-12 EPS of ($1.01). The name has a market cap of $394.17 million and a median Wall Street price target of $8.50 with a high target of $10.00. Currently there are 5 analysts that rate SGYP a ‘Buy. No analyst rates it a ‘Hold’ or a ‘Sell’.
In terms of share statistics, Synergy Pharmaceuticals Inc. has a total of 96.61 million shares outstanding with 9.54% held by insiders and 28.70% held by institutions. The stock’s short interest currently stands at 18.27%, bringing the total number of shares sold short to 16.00 million.
Shares of the New York-based company are down 33.33% year-over-year ; up 25.25% year-to-date.