Market Overview

UPDATE: Canaccord Genuity Raises PT to $10 on Synergy Pharmaceuticals on Positive Plecanatide Data

Related SGYP
Anacor Pharmaceuticals, Inc. (ANAC) in Focus: Stock Surges 6.76% - Tale of the Tape
US Stock Futures Down; Alcoa Earnings In Focus

Canaccord Genuity reiterated its Buy rating on Synergy Pharmaceuticals (NASDAQ: SGYP) and increased its price target from $7 to $10.

Canaccord Genuity noted, "Reiterate BUY, raise target to $10 on increased probability of success for plecanatide in CIC. We see clear unmet need in chronic constipation (CIC) patients who don't respond/have AEs on current therapies. Compared to Linzess (FRX/IRWD), plecanatide may have better tolerability (no diarrhea in Phase 2a). We are raising our pNPV based target to $10 from $7, driven by increased chance of plecanatide success on today's positive proof of concept data."

Synergy Pharmaceuticals closed at $5.26 on Monday.

Latest Ratings for SGYP

DateFirmActionFromTo
Nov 2013Canaccord GenuityReiteratesBuy
Nov 2013Aegis CapitalReiteratesBuy
Jun 2013Credit SuisseInitiates Coverage onOutperform

View More Analyst Ratings for SGYP
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (SGYP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters