Synergy Pharmaceuticals is having a decent day in the market today as the stock works on a recovery from Friday’s and Monday’s market-wide declines. In my opinion, a strong recovery is long over due. Today, we’ll talk about what we’re seeing in the market, why SGYP is a strong opportunity for gains, and what we can expect to see moving forward.
SGYP’s Market Movement Today
So far, the trading session has been relatively good for Synergy Pharmaceuticals. Currently (1:49), SGYP is trading at $6.90 per share after a gain of 2.45% so far today. The high for today came just after the opening bell, pushing SGYP up to $7.11 per share. Today’s low is $6.82.
Why Synergy Pharmaceuticals Is A Great Opportunity For Gains
If you’ve been following this stock, even just for a month, you know that in July, SGYP released study data from the second of 2 phase 3 studies into plecanatide. That data was so positive that Synergy Pharmaceuticals climbed to well over $9 per share. Much of the reason for that climb was the company’s announcement that it now intends to submit a New Drug Application to the Food and Drug Administration for plecanatide, an NDA that is likely to be approved.
However, investors like fast paced movement. They like to see things happening right now, no matter how irrational that request may be. SGYP will likely submit the NDA relatively soon. As a matter of fact, Synergy Pharmaceuticals announced that they plan on submitting the application as soon as December, 2015. However, that simply isn’t soon enough for impatient investors who have been manipulating the stock, causing it to fall.
What We Can Expect To See Moving Forward
Unfortunately, I wouldn’t be surprised to see more manipulation causing short term downtrends in the near future. Nonetheless, I’m still very bullish on the stock. The reality is that there is plenty to be excited about here. As I mentioned above and in posts in the past, Synergy Pharmaceuticals’ plecanatide is an incredible drug that is headed for an application with the FDA. When the NDA is submitted, investors are likely to get excited once again, pushing the stock incredibly high. After that, the next catalyst will be the approval letter from the FDA to Synergy Pharmaceuticals. From there, it’s all about sales, which, with the stats we saw from trials on the drug, I don’t think will be hard to come by.
Synergy Pharmaceuticals is seeing a bit of a recovery. Even if the stock was to edge further downward, I wouldn’t be concerned. The reality is that SGYP has tons of good news ahead and I believe that momentous growth is likely to take place in December. So, from now to then, watch for support as an opportunity to get in on the gains at a discount. Let the shorts manipulate the stock and if you’re a bull, take advantage of their manipulation by picking up more shares!
What Do You Think?
Where do you think SGYP is headed and why? Let us know in the comments below!