Cantor Fitzgerald Starts Synergy Pharmaceuticals (SGYP) at Buy
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Price: $5.19 -2.08%
Rating Summary:
7 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
7 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade SGYP Now!
Cantor Fitzgerald initiated coverage on Synergy Pharmaceuticals (NASDAQ: SGYP) with a Buy rating and $7.00 price target.
"We believe that investors have been motivated by the attractiveness of the constipation/IBS-C market outlined by competitor Ironwood (NASDAQ: IRWD) and view Synergy's plecanatide as an improved compound possessing similar efficacy with less diarrhea," said analyst Irina Rivkind, who prefers Synergy over Ironwood.
"Economics appear more favorable for Synergy, which owns 100% of plecanatide commercial rights, while Ironwood has partnered linaclotide with three companies and keeps only a portion of the profits. Synergy's operational expenses are more modest than Ironwood’s, and the exit strategy for Synergy is more visible, in our view, and we believe that management plans to sell the asset rather than build out a large organization with future commercial and clinical risks," she said.
For an analyst ratings summary and ratings history on Synergy Pharmaceuticals click here. For more ratings news on Synergy Pharmaceuticals click here.
Shares of Synergy Pharmaceuticals closed at $4.71 yesterday, with a 52 week range of $1.86-$7.08.
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"We believe that investors have been motivated by the attractiveness of the constipation/IBS-C market outlined by competitor Ironwood (NASDAQ: IRWD) and view Synergy's plecanatide as an improved compound possessing similar efficacy with less diarrhea," said analyst Irina Rivkind, who prefers Synergy over Ironwood.
"Economics appear more favorable for Synergy, which owns 100% of plecanatide commercial rights, while Ironwood has partnered linaclotide with three companies and keeps only a portion of the profits. Synergy's operational expenses are more modest than Ironwood’s, and the exit strategy for Synergy is more visible, in our view, and we believe that management plans to sell the asset rather than build out a large organization with future commercial and clinical risks," she said.
For an analyst ratings summary and ratings history on Synergy Pharmaceuticals click here. For more ratings news on Synergy Pharmaceuticals click here.
Shares of Synergy Pharmaceuticals closed at $4.71 yesterday, with a 52 week range of $1.86-$7.08.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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