Synergy Pharmaceuticals (SGYP) : Traders are bullish on Synergy Pharmaceuticals (SGYP) as it has outperformed the S&P 500 by a margin of 2.1% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 10.13%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 10.8% in the last 1 week, and is up 8.99% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Synergy Pharmaceuticals (NASDAQ:SGYP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.00 and $3.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.00, notching a gain of 2.04% for the day. The total traded volume was 1,894,507 . The stock had closed at $3.92 on the previous day.
The stock has recorded a 20-day Moving Average of 4.73% and the 50-Day Moving Average is 9.69%. Synergy Pharmaceuticals, Inc. is up 6.95% in the last 3-month period. Year-to-Date the stock performance stands at -29.45%.
Synergy Pharmaceuticals Inc. (Synergy) is a biopharmaceutical company focused on the development of drugs to treat gastrointestinal (GI), disorders and diseases. The Companys platform technology is based on the naturally occurring human GI peptide, uroguanylin, a regulator of normal GI physiology. The Companys products include plecanatide, SP-333 and FV-100. The Companys lead product is plecanatide, a guanylate cyclase C (GC-C), receptor agonist, designed to treat GI disorders, primarily chronic idiopathic constipation (CIC), and constipation predominant irritable bowel syndrome (IBS-C). The Company is developing a second-generation GC-C receptor agonist, SP-333, for the treatment of opioid induced constipation (OIC), and for inflammatory bowel disease (IBD). FV-100 is an orally available nucleoside analog. The Companys subsidiaries include Synergy Advanced Pharmaceuticals, Inc., IgX, Ltd and ContraVir Pharmaceuticals, Inc.