Synergy Pharmaceuticals Inc (NASDAQ: SGYP) is off to a relatively strong morning in the market this morning and for good reason. At the moment, there are rumors surfacing all over social media that are leading to excitement among investors. As a result, the stock is headed up, which prompted our partners at Trade Ideas to inform us of the movement. At the moment (10:28), SGYP is trading at $4.28 per share after a gain of $0.17 per share (4.14%) thus far today.
SGYP Gains On Takeover Rumors
As mentioned above, Synergy Pharmaceuticals is off to a pretty strong start to the trading session today, and for good reason. At the moment, there are rumors surfacing that there’s some strong takeover interest surrounding the company. According to the rumors, both Allergan and Takeda are interested in buying the company. Of course, if this is true, this could produce a strong premium with two big players battling it out.
However, it’s important to remember that we see takeover rumors in the market all of the time, and in most cases, they prove to be false. While there is a good chance of interest here, I wouldn’t hang my hat on any rumor. So, if you’re going to trade on this news, please trade with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SGYP. In particular, we’re interested in learning if there is any validity to the rumors here. We’ll continue to follow the story closely and bring the news to you as it breaks.
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