BTIG Affirms 'Buy' Rating on Synergy Pharma (SGYP) Ahead of Pivotal Plecanatide Data in IBS-C

September 16, 2016 11:42 AM EDT
Get Alerts SGYP Hot Sheet
Price: $5.91 -7.8%

Rating Summary:
    12 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade SGYP Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

BTIG affirms Synergy Pharma (Nasdaq: SGYP) at Buy with a price target of $11 ahead of the potential release of pivotal Phase 3 top line results in IBS-C, which is expected in Q416.

Analyst Timothy Chiang commented today, We believe visibility on plecanatide (the Co.’s late stage pipeline product for the treatment of chronic idiopathic constipation – CIC, and constipation predominant IBS) could improve heading into the Fall as we expect additional data to be released at the upcoming ACG meeting in mid-October. We remain positive on SGYP shares as we think plecanatide is likely to gain FDA approval (for the treatment of chronic constipation) in early 2017 (Jan. 29 PDUFA date).

Once-Daily Oral Plecanatide Could Be the Next New CIC treatment to be launched in the US in 2017. Our CY17-CY19 sales estimates (for the CIC treatment indication) are $35M, $125M, and $250M, respectively. An NDA filing for an IBS-C treatment indication could occur in 1Q17, assuming the two pivotal Phase 3 trials show a positive result (top line results expected in 4Q16). In early August, the Co. indicated in a press release that > 95% of the planned patient enrollment had been completed.

For an analyst ratings summary and ratings history on Synergy Pharmaceuticals click here. For more ratings news on Synergy Pharmaceuticals click here.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, FDA

Related Entities


Add Your Comment